First Commonwealth Financial Corporation $FCF Shares Bought by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in First Commonwealth Financial Corporation by 3.3%, acquiring an additional 70,286 shares, bringing its total ownership to 2,231,886 shares valued at approximately $34.68 million.
• First Commonwealth Financial reported earnings of $0.38 per share for the quarter, exceeding analysts’ expectations of $0.34, with revenues of $131.33 million against anticipated $125.88 million.
• The company announced a quarterly dividend of $0.135 per share with an annual yield of 3.2%, set to be paid to shareholders of record on August 8th.

Fuller & Thaler Asset Management Inc. lifted its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,231,886 shares of the bank's stock after acquiring an additional 70,286 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 2.19% of First Commonwealth Financial worth $34,684,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. US Bancorp DE grew its stake in First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank's stock worth $37,000 after purchasing an additional 2,300 shares in the last quarter. Sterling Capital Management LLC grew its stake in First Commonwealth Financial by 815.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock worth $54,000 after purchasing an additional 2,839 shares in the last quarter. CWM LLC grew its stake in 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 purchasing an additional 3,362 shares in the last quarter. Aquatic Capital Management LLC grew its stake in First Commonwealth Financial by 128.9% in the fourth quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock worth $136,000 after purchasing an additional 4,511 shares in the last quarter. Finally, Choreo LLC acquired a new position in First Commonwealth Financial in the first quarter worth about $156,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF traded down $0.1050 during midday trading on Monday, hitting $17.6250. 96,288 shares of the company's stock were exchanged, compared to its average volume of 695,267. 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 stock's 50 day moving average price is $16.53 and its 200-day moving average price is $15.92. The firm has a market cap of $1.84 billion, a P/E ratio of 13.55 and a beta of 0.84. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $131.33 million during the quarter, compared to the consensus estimate of $125.88 million. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.During the same period in the previous year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.135 per share. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 3.1%. First Commonwealth Financial's payout ratio is currently 41.54%.

Analyst Ratings Changes

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

Insider Activity

In other news, CFO James R. Reske sold 2,190 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $16.66, for a total transaction of $36,485.40. Following the completion of the transaction, the chief financial officer directly owned 90,246 shares in the company, valued at approximately $1,503,498.36. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.17% of the company's stock.

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.