First Commonwealth Financial Corporation $FCF Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 39.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 34,342 shares of the bank’s stock after selling 22,390 shares during the period. Teacher Retirement System of Texas’ holdings in First Commonwealth Financial were worth $557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE lifted its position in First Commonwealth Financial by 2,911.4% during the first quarter. US Bancorp DE now owns 2,379 shares of the bank’s stock worth $37,000 after buying an additional 2,300 shares during the period. GAMMA Investing LLC increased its stake in shares of First Commonwealth Financial by 109.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,438 shares of the bank’s stock valued at $72,000 after acquiring an additional 2,321 shares during the last quarter. CWM LLC lifted its holdings in shares of First Commonwealth Financial by 73.6% during the 1st quarter. CWM LLC now owns 7,932 shares of the bank’s stock worth $123,000 after acquiring an additional 3,362 shares during the period. Choreo LLC acquired a new stake in shares of First Commonwealth Financial in the first quarter worth approximately $156,000. Finally, Cerity Partners LLC purchased a new stake in First Commonwealth Financial in the first quarter valued at approximately $163,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the transaction, the chief financial officer owned 85,866 shares in the company, valued at $1,458,863.34. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael P. Mccuen acquired 2,826 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of $17.67 per share, with a total value of $49,935.42. Following the completion of the transaction, the executive vice president owned 59,021 shares in the company, valued at $1,042,901.07. The trade was a 5.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.17% of the company’s stock.

First Commonwealth Financial Price Performance

FCF stock opened at $15.73 on Monday. The firm has a market cap of $1.64 billion, a P/E ratio of 11.40 and a beta of 0.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94. First Commonwealth Financial Corporation has a 1 year low of $13.54 and a 1 year high of $19.96. The stock has a 50-day simple moving average of $16.76 and a 200-day simple moving average of $16.44.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, October 28th. The bank reported $0.39 earnings per share 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 company had revenue of $135.98 million during the quarter, compared to analysts’ expectations of $136.30 million. During the same quarter in the prior year, the company earned $0.31 EPS. On average, equities analysts predict that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analyst Weigh In

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

First Commonwealth Financial Company Profile

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.