EntryPoint Capital LLC Acquires New Holdings in First Commonwealth Financial Corporation $FCF

Key Points

• EntryPoint Capital LLC has acquired a new stake in First Commonwealth Financial Corporation (NYSE: FCF), purchasing 14,822 shares valued at approximately $230,000 during the first quarter.
• The company's most recent earnings report revealed a profit of $0.38 per share, surpassing analyst expectations of $0.34.
• First Commonwealth Financial also declared a quarterly dividend of $0.135 per share, which represents an annual yield of 3.0% and a dividend payout ratio of 41.54%.

EntryPoint Capital LLC acquired a new position in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,822 shares of the bank's stock, valued at approximately $230,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of First Commonwealth Financial by 2,911.4% in the 1st 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 in the last quarter. CWM LLC boosted its position in shares of First Commonwealth Financial by 73.6% during the first quarter. CWM LLC now owns 7,932 shares of the bank's stock worth $123,000 after buying an additional 3,362 shares during the period. Aquatic Capital Management LLC boosted its holdings in shares of First Commonwealth Financial by 128.9% in the fourth quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock valued at $136,000 after acquiring an additional 4,511 shares in the last quarter. Choreo LLC bought a new position in shares of First Commonwealth Financial in the first quarter valued at approximately $156,000. Finally, Cerity Partners LLC bought a new stake in First Commonwealth Financial during the first quarter worth approximately $163,000. Institutional investors and hedge funds own 72.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods decreased their price target on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial has an average rating of "Moderate Buy" and a consensus target price of $18.90.

First Commonwealth Financial Trading Up 0.1%

NYSE FCF traded up $0.02 during trading on Friday, reaching $17.83. 64,381 shares of the stock traded hands, compared to its average volume of 687,549. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 13.70 and a beta of 0.84. The stock's 50-day moving average price is $16.72 and its 200 day moving average price is $15.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results 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 company had revenue of $131.33 million during 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 in the prior year, the company earned $0.37 earnings per share. Analysts predict that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 8th. First Commonwealth Financial's dividend payout ratio is 41.54%.

Insider Transactions at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,190 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $16.66, for a total value of $36,485.40. Following the transaction, the chief financial officer directly owned 90,246 shares of the company's stock, valued at $1,503,498.36. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.17% of the company's stock.

First Commonwealth Financial 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.