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

Key Points

• Intech Investment Management LLC increased its stake in First Commonwealth Financial Corporation by 22.8%, owning 117,525 shares valued at approximately $1.83 million as of the last SEC filing.
• First Commonwealth Financial's stock received a rating upgrade from "sell" to "hold" by Wall Street Zen, with an average target price of $18.90, indicating a "Moderate Buy" consensus from analysts.
• The company recently declared a quarterly dividend of $0.135 per share, resulting in an annualized yield of 3.1% with a payout ratio of 41.54%.

Intech Investment Management LLC boosted its position in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,525 shares of the bank's stock after acquiring an additional 21,858 shares during the period. Intech Investment Management LLC owned 0.11% of First Commonwealth Financial worth $1,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in First Commonwealth Financial by 2,911.4% during the 1st quarter. US Bancorp DE now owns 2,379 shares of the bank's stock worth $37,000 after acquiring an additional 2,300 shares during the period. CWM LLC boosted its stake in First Commonwealth Financial by 73.6% in the 1st quarter. CWM LLC now owns 7,932 shares of the bank's stock worth $123,000 after purchasing an additional 3,362 shares during the period. Choreo LLC bought a new position in First Commonwealth Financial in the 1st quarter worth approximately $156,000. Cerity Partners LLC bought a new position in First Commonwealth Financial in the 1st quarter worth approximately $163,000. Finally, Squarepoint Ops LLC bought a new position in First Commonwealth Financial in the 4th quarter worth approximately $184,000. Institutional investors own 72.58% of the company's stock.

First Commonwealth Financial Stock Down 2.1%

Shares of First Commonwealth Financial stock traded down $0.37 during trading on Friday, hitting $17.55. 3,039,980 shares of the stock traded hands, compared to its average volume of 461,917. The firm has a market cap of $1.83 billion, a P/E ratio of 13.50 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a 52-week low of $13.54 and a 52-week high of $19.96. The stock's fifty day simple moving average is $17.06 and its 200 day simple moving average is $16.10.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.The company had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.88 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, equities analysts predict that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.1%. First Commonwealth Financial's payout ratio is 41.54%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial presently has an average rating of "Moderate Buy" and an average price target of $18.90.

Insider Transactions at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,826 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was bought at an average cost of $17.67 per share, with a total value of $49,935.42. Following the completion of the acquisition, the executive vice president owned 59,021 shares of the company's stock, valued at $1,042,901.07. The trade was a 5.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James R. Reske sold 2,190 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $17.74, for a total value of $38,850.60. Following the transaction, the chief financial officer directly owned 88,056 shares of the company's stock, valued at approximately $1,562,113.44. The trade was a 2.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.17% of the company's stock.

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.