First Commonwealth Financial Corporation $FCF Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC boosted its stake in First Commonwealth Financial by 147.1% in the fourth quarter, ending with 239,641 shares valued at about $4.04 million. Institutional investors and hedge funds now own roughly 72.58% of the stock.
• The stock was trading down 1.6% at $18.64, with a market cap of $1.90 billion and a P/E ratio of 12.35. Analyst sentiment remains mixed, with a consensus rating of Moderate Buy and a $20.33 price target.
• First Commonwealth Financial reported quarterly EPS of $0.37, missing estimates by $0.03, though revenue rose 12.9% year over year to $133.7 million. The company also paid a quarterly dividend of $0.14 per share, yielding about 3.0% annually.

Intech Investment Management LLC grew its position in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 147.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,641 shares of the bank's stock after purchasing an additional 142,645 shares during the quarter. Intech Investment Management LLC owned approximately 0.23% of First Commonwealth Financial worth $4,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of First Commonwealth Financial by 2,250.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank's stock valued at $42,000 after purchasing an additional 2,498 shares in the last quarter. Smithfield Trust Co acquired a new stake in First Commonwealth Financial during the 4th quarter worth $51,000. TD Private Client Wealth LLC raised its stake in First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank's stock worth $61,000 after acquiring an additional 621 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in First Commonwealth Financial during the 3rd quarter worth $85,000. Finally, Smartleaf Asset Management LLC raised its stake in First Commonwealth Financial by 58.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank's stock worth $91,000 after acquiring an additional 1,950 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.33.

First Commonwealth Financial Trading Down 1.6%

Shares of First Commonwealth Financial stock opened at $18.64 on Tuesday. First Commonwealth Financial Corporation has a 1 year low of $15.00 and a 1 year high of $19.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $1.90 billion, a P/E ratio of 12.35 and a beta of 0.75. The company's fifty day moving average is $18.32 and its two-hundred day moving average is $17.63.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $133.70 million for the quarter, compared to analysts' expectations of $134.32 million. During the same period in the previous year, the business posted $0.32 earnings per share. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Analysts forecast that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.14. First Commonwealth Financial's payout ratio is 37.09%.

Insider Buying and Selling at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.52, for a total value of $38,373.44. Following the sale, the chief financial officer owned 81,348 shares of the company's stock, valued at $1,506,564.96. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 25,000 shares of First Commonwealth Financial stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $18.34, for a total transaction of $458,500.00. Following the completion of the sale, the executive vice president directly owned 63,068 shares in the company, valued at approximately $1,156,667.12. The trade was a 28.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,180 shares of company stock worth $808,454 over the last three months. 1.90% of the stock is currently owned by insiders.

About First Commonwealth Financial

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.

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