SG Americas Securities LLC Reduces Stock Position in First Commonwealth Financial Corporation $FCF

SG Americas Securities LLC lessened its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 41.2% in the second quarter, HoldingsChannel reports. The firm owned 18,329 shares of the bank’s stock after selling 12,846 shares during the period. SG Americas Securities LLC’s holdings in First Commonwealth Financial were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of First Commonwealth Financial by 10.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,855 shares of the bank’s stock worth $436,000 after buying an additional 2,579 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in First Commonwealth Financial by 4.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,028 shares of the bank’s stock worth $374,000 after purchasing an additional 1,032 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of First Commonwealth Financial by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank’s stock valued at $41,039,000 after purchasing an additional 56,324 shares during the period. Boston Partners increased its position in shares of First Commonwealth Financial by 5.0% during the 2nd quarter. Boston Partners now owns 107,335 shares of the bank’s stock valued at $1,742,000 after purchasing an additional 5,065 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of First Commonwealth Financial in the 2nd quarter worth approximately $3,385,000. 72.58% of the stock is owned by institutional investors.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.25 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.20. The business has a 50-day moving average price of $16.26 and a 200-day moving average price of $16.47. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 11.78 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). First Commonwealth Financial had a return on equity of 10.12% and a net margin of 20.00%.The business had revenue of $135.98 million during the quarter, compared to analysts’ expectations of $136.30 million. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, equities research analysts predict that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, November 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 39.13%.

Insiders Place Their Bets

In other First Commonwealth Financial news, EVP Michael P. Mccuen purchased 3,090 shares of First Commonwealth Financial stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $16.19 per share, for a total transaction of $50,027.10. Following the completion of the transaction, the executive vice president owned 62,111 shares of the company’s stock, valued at approximately $1,005,577.09. This trade represents a 5.24% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James R. Reske sold 2,190 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $16.99, for a total transaction of $37,208.10. Following the sale, the chief financial officer directly owned 85,866 shares in the company, valued at approximately $1,458,863.34. The trade was a 2.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 6,916 shares of company stock valued at $115,233 and sold 5,898 shares valued at $99,664. Company insiders own 2.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCF. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Wednesday, October 8th. Wall Street Zen raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. DA Davidson cut First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Zacks Research downgraded First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Commonwealth Financial presently has a consensus rating of “Moderate Buy” and an average price target of $19.63.

About First Commonwealth Financial

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.