Y Intercept Hong Kong Ltd Acquires 45,803 Shares of First Commonwealth Financial Corporation $FCF

Y Intercept Hong Kong Ltd grew its holdings in First Commonwealth Financial Corporation (NYSE:FCF) by 83.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 100,419 shares of the bank’s stock after acquiring an additional 45,803 shares during the period. Y Intercept Hong Kong Ltd’s holdings in First Commonwealth Financial were worth $1,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of First Commonwealth Financial by 2,250.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after acquiring an additional 2,498 shares during the period. Smithfield Trust Co bought a new stake in First Commonwealth Financial during the 4th quarter valued at approximately $51,000. TD Private Client Wealth LLC lifted its holdings in First Commonwealth Financial by 20.7% in the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after purchasing an additional 621 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in First Commonwealth Financial in the 3rd quarter worth approximately $85,000. Finally, GAMMA Investing LLC boosted its stake in First Commonwealth Financial by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock worth $108,000 after purchasing an additional 1,460 shares during the period. Institutional investors own 72.58% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James R. Reske sold 2,072 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the completion of the transaction, the chief financial officer directly owned 77,204 shares in the company, valued at approximately $1,582,682. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the transaction, the executive vice president directly owned 56,861 shares of the company’s stock, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,430 shares of company stock valued at $914,266 in the last quarter. 1.90% of the stock is currently owned by insiders.

First Commonwealth Financial Stock Up 1.4%

FCF opened at $20.25 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of 13.41 and a beta of 0.74. The firm has a 50-day simple moving average of $19.25 and a two-hundred day simple moving average of $18.29. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. First Commonwealth Financial Corporation has a 52 week low of $15.00 and a 52 week high of $20.87.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Analysts forecast that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.8%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.09%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.