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. lessened its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in FCF. LPL Financial LLC increased its position in First Commonwealth Financial by 10.7% during the 4th quarter. LPL Financial LLC now owns 32,879 shares of the bank's stock worth $556,000 after purchasing an additional 3,170 shares in the last quarter. Wells Fargo & Company MN lifted its position in First Commonwealth Financial by 17.3% during the fourth quarter. Wells Fargo & Company MN now owns 75,028 shares of the bank's stock worth $1,269,000 after buying an additional 11,064 shares during the period. Envestnet Asset Management Inc. lifted its position in First Commonwealth Financial by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,458 shares of the bank's stock worth $465,000 after buying an additional 1,588 shares during the period. Bank of Montreal Can lifted its position in First Commonwealth Financial by 6.2% during the fourth quarter. Bank of Montreal Can now owns 17,932 shares of the bank's stock worth $303,000 after buying an additional 1,048 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in First Commonwealth Financial during the fourth quarter worth about $1,103,000. Hedge funds and other institutional investors own 72.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCF. Keefe, Bruyette & Woods reduced their target price on 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. Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada lowered their price target on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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 firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 90,246 shares in the company, valued at $1,503,498.36. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.17% of the stock is owned by corporate insiders.

First Commonwealth Financial Stock Up 1.2%

Shares of First Commonwealth Financial stock traded up $0.22 during trading hours on Tuesday, hitting $17.78. 138,400 shares of the company's stock traded hands, compared to its average volume of 693,753. The stock has a 50 day simple moving average of $16.58 and a 200-day simple moving average of $15.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.86 billion, a PE ratio of 13.68 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 announced its 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 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 last year, the firm earned $0.37 earnings per share. Equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid 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 3.0%. First Commonwealth Financial's dividend payout ratio (DPR) is currently 41.54%.

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.