First Commonwealth Financial Corporation $FCF Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in First Commonwealth Financial Corporation (NYSE:FCF) by 50.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,189 shares of the bank’s stock after selling 85,527 shares during the quarter. New York State Teachers Retirement System’s holdings in First Commonwealth Financial were worth $1,498,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FCF. EverSource Wealth Advisors LLC lifted its holdings in shares of First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,498 shares during the last quarter. Smithfield Trust Co purchased a new position in First Commonwealth Financial during the 4th quarter worth $51,000. TD Private Client Wealth LLC grew its stake in First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after buying an additional 621 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in First Commonwealth Financial during the 3rd quarter valued at about $85,000. Finally, GAMMA Investing LLC increased its position in First Commonwealth Financial by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock valued at $108,000 after buying an additional 1,460 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF traded down $0.00 during mid-day trading on Friday, hitting $20.29. The stock had a trading volume of 453,552 shares, compared to its average volume of 686,510. The firm has a market cap of $2.06 billion, a PE ratio of 13.44 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. The company has a 50 day moving average of $19.29 and a two-hundred day moving average of $18.31. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $20.87.

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

First Commonwealth Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is presently 37.09%.

Insider Buying and Selling

In related news, EVP Michael P. Mccuen sold 5,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the sale, the executive vice president owned 56,861 shares in the company, valued at $1,056,477.38. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owned 77,204 shares in the company, valued at approximately $1,582,682. This trade represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,430 shares of company stock valued at $914,266 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.