Bartlett & CO. Wealth Management LLC Invests $6.26 Million in First Commonwealth Financial Corporation $FCF

Key Points

• Bartlett & CO. Wealth Management LLC invested $6.26 million in First Commonwealth Financial Corporation, acquiring approximately 385,513 shares in the 2nd quarter.
• The company recently reported a quarterly earnings per share of $0.38, exceeding analysts' expectations and posted revenue of $131.33 million.
• First Commonwealth Financial announced a quarterly dividend of $0.135 per share, representing a yield of 3.2% and a dividend payout ratio of 41.54%.

Bartlett & CO. Wealth Management LLC acquired a new stake in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 385,513 shares of the bank's stock, valued at approximately $6,257,000. Bartlett & CO. Wealth Management LLC owned approximately 0.37% of First Commonwealth Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. US Bancorp DE raised its holdings in shares of First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank's stock valued at $37,000 after purchasing an additional 2,300 shares during the last quarter. GAMMA Investing LLC grew its stake in First Commonwealth Financial by 109.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,438 shares of the bank's stock valued at $72,000 after buying an additional 2,321 shares in the last quarter. CWM LLC boosted its holdings in shares of First Commonwealth Financial by 73.6% in the first 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 bought a new stake in shares of First Commonwealth Financial during the first quarter valued at about $156,000. Finally, Cerity Partners LLC bought a new stake in shares of First Commonwealth Financial during the first quarter valued at about $163,000. Institutional investors and hedge funds own 72.58% of the company's stock.

First Commonwealth Financial Trading Down 0.5%

Shares of First Commonwealth Financial stock opened at $17.05 on Wednesday. The company has a 50 day simple moving average of $17.12 and a two-hundred day simple moving average of $16.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $1.78 billion, a PE ratio of 13.12 and a beta of 0.85. First Commonwealth Financial Corporation has a 1 year low of $13.54 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $131.33 million for the quarter, compared to analysts' expectations of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same quarter last year, the company posted $0.37 EPS. Analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 8th. First Commonwealth Financial's dividend payout ratio is presently 41.54%.

Insider Transactions at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,826 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $17.67 per share, for a total transaction of $49,935.42. Following the acquisition, the executive vice president owned 59,021 shares of the company's stock, valued at $1,042,901.07. This trade represents a 5.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James R. Reske sold 2,190 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $17.74, for a total value of $38,850.60. Following the completion of the sale, the chief financial officer owned 88,056 shares of the company's stock, valued at $1,562,113.44. The trade was a 2.43% decrease in their position. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, 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. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.90.

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.

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