First Commonwealth Financial Corporation $FCF Stock Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in First Commonwealth Financial Corporation (NYSE:FCF) by 31.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,728 shares of the bank’s stock after selling 31,248 shares during the quarter. SG Americas Securities LLC owned 0.07% of First Commonwealth Financial worth $1,173,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 2,498 shares in the last quarter. Smithfield Trust Co acquired a new position in First Commonwealth Financial in the fourth quarter worth $51,000. TD Private Client Wealth LLC boosted its holdings in First Commonwealth Financial by 20.7% in the fourth 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 during the period. iSAM Funds UK Ltd bought a new stake in First Commonwealth Financial during the third quarter valued at $85,000. Finally, GAMMA Investing LLC increased its stake in First Commonwealth Financial by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock valued at $108,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

Insider Buying and Selling at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $18.93, for a total transaction of $39,222.96. Following the completion of the transaction, the chief financial officer owned 79,276 shares in the company, valued at approximately $1,500,694.68. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the sale, the executive vice president directly owned 56,861 shares in the company, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,430 shares of company stock worth $908,796. 1.90% of the stock is owned by insiders.

First Commonwealth Financial Stock Down 0.1%

NYSE:FCF opened at $20.45 on Friday. The firm has a market capitalization of $2.08 billion, a PE ratio of 13.54 and a beta of 0.74. The stock has a 50 day moving average of $19.13 and a 200-day moving average of $18.21. First Commonwealth Financial Corporation has a 52 week low of $15.00 and a 52 week high of $20.87. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly 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). First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The company had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.14 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.09%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a research 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, the stock 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.