New York State Teachers Retirement System Lowers Stake in First Commonwealth Financial Corporation $FCF

New York State Teachers Retirement System cut its stake in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 50.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,189 shares of the bank's stock after selling 85,527 shares during the period. New York State Teachers Retirement System owned about 0.08% of First Commonwealth Financial worth $1,498,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FCF. ProShare Advisors LLC boosted its position in First Commonwealth Financial by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank's stock valued at $341,000 after buying an additional 585 shares during the period. TD Private Client Wealth LLC increased its position in shares of First Commonwealth Financial by 20.7% during the fourth 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 during the period. Rafferty Asset Management LLC raised its stake in shares of First Commonwealth Financial by 0.9% during the fourth quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank's stock valued at $1,585,000 after acquiring an additional 875 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of First Commonwealth Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank's stock valued at $4,880,000 after acquiring an additional 1,068 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of First Commonwealth Financial by 4.0% in the fourth quarter. Inspire Investing LLC now owns 27,714 shares of the bank's stock valued at $467,000 after purchasing an additional 1,077 shares during the period. Hedge funds and other institutional investors own 72.58% of the company's stock.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Norman J. Montgomery sold 25,000 shares of the company's stock in a transaction on Thursday, April 30th. The stock was 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 owned 63,068 shares in the company, valued at $1,156,667.12. This represents a 28.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Mccuen sold 5,250 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the sale, the executive vice president directly owned 56,861 shares in the company, valued at $1,056,477.38. This trade represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,430 shares of company stock valued at $914,266 over the last 90 days. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.

First Commonwealth Financial Stock Down 0.0%

NYSE:FCF traded down $0.00 during mid-day trading on Friday, reaching $20.29. The company's stock had a trading volume of 453,552 shares, compared to its average volume of 686,510. First Commonwealth Financial Corporation has a 1 year low of $15.00 and a 1 year high of $20.87. The stock has a fifty day moving average of $19.29 and a 200-day moving average of $18.31. The firm has a market capitalization of $2.06 billion, a PE ratio of 13.44 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The business had revenue of $133.70 million for the quarter, compared to analysts' expectations of $134.32 million. During the same period last year, the business posted $0.32 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Equities research 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. Investors of record on Friday, May 8th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 2.8%. First Commonwealth Financial's dividend payout ratio is 37.09%.

First Commonwealth Financial Company Profile

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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