Fuller & Thaler Asset Management Inc. Purchases 70,286 Shares of First Commonwealth Financial Corporation $FCF

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 First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,231,886 shares of the bank's stock after acquiring an additional 70,286 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 2.19% of First Commonwealth Financial worth $34,684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in First Commonwealth Financial by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank's stock worth $64,642,000 after buying an additional 203,052 shares in the last quarter. Northern Trust Corp grew its stake in First Commonwealth Financial by 13.7% during the fourth quarter. Northern Trust Corp now owns 1,483,405 shares of the bank's stock worth $25,099,000 after buying an additional 179,250 shares in the last quarter. First Trust Advisors LP grew its stake in First Commonwealth Financial by 19.9% during the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank's stock worth $21,461,000 after buying an additional 210,876 shares in the last quarter. Principal Financial Group Inc. grew its stake in First Commonwealth Financial by 3.4% during the first quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank's stock worth $8,954,000 after buying an additional 18,825 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in First Commonwealth Financial during the first quarter worth about $5,077,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Trading Up 5.0%

NYSE FCF traded up $0.8460 during trading hours on Friday, reaching $17.7060. The company's stock had a trading volume of 891,604 shares, compared to its average volume of 608,367. The firm has a fifty day simple moving average of $16.53 and a 200-day simple moving average of $15.94. The stock has a market cap of $1.85 billion, a P/E ratio of 13.62 and a beta of 0.84. First Commonwealth Financial Corporation has a 52 week low of $13.54 and a 52 week high of $19.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93.

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, beating analysts' consensus estimates of $0.34 by $0.04. The business had revenue of $131.33 million during the quarter, compared to analyst estimates 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 business earned $0.37 EPS. Equities analysts forecast that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, August 8th. First Commonwealth Financial's dividend payout ratio (DPR) is 41.54%.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 owned 90,246 shares in the company, valued at approximately $1,503,498.36. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.