First Commonwealth Financial Corporation $FCF Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in First Commonwealth Financial Corporation by 2.8%, now owning approximately 1.90% of the company, valued at $30 million.
• Recent analyst ratings have seen target prices for First Commonwealth Financial cut from $20.00 to $18.00 by Royal Bank of Canada, while three analysts recommend a Buy rating.
• A dividend of $0.135 per share is scheduled for distribution on August 22nd, representing an annualized yield of 3.2%.

American Century Companies Inc. trimmed its position in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,937,194 shares of the bank's stock after selling 55,518 shares during the quarter. American Century Companies Inc. owned approximately 1.90% of First Commonwealth Financial worth $30,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of First Commonwealth Financial by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank's stock valued at $64,642,000 after acquiring an additional 203,052 shares during the last quarter. Northern Trust Corp increased its holdings in shares of First Commonwealth Financial by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,483,405 shares of the bank's stock valued at $25,099,000 after acquiring an additional 179,250 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of First Commonwealth Financial by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank's stock valued at $21,461,000 after acquiring an additional 210,876 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of First Commonwealth Financial by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank's stock valued at $8,954,000 after acquiring an additional 18,825 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of First Commonwealth Financial in the 1st quarter valued at approximately $5,077,000. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Stock Performance

FCF stock traded up $0.16 during trading on Wednesday, reaching $17.84. 306,433 shares of the company's stock were exchanged, compared to its average volume of 614,187. 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 1-year low of $13.54 and a 1-year high of $19.96. The company's fifty day moving average price is $16.67 and its 200-day moving average price is $15.95. The firm has a market cap of $1.86 billion, a PE ratio of 13.72 and a beta of 0.84.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced 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 business had revenue of $131.33 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.37 earnings per share. On average, research analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

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. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 3.0%. First Commonwealth Financial's dividend payout ratio is 41.54%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FCF. Keefe, Bruyette & Woods lowered their price objective 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. Royal Bank Of Canada lowered their price objective 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. Finally, Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.90.

Insider Buying and Selling at First Commonwealth Financial

In other news, CFO James R. Reske sold 2,190 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $16.66, for a total value of $36,485.40. Following the completion of the sale, the chief financial officer owned 90,246 shares in the company, valued at $1,503,498.36. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.17% of the stock is currently owned by company insiders.

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.