Susquehanna International Group LLP Decreases Holdings in First Commonwealth Financial Corporation $FCF

Key Points

• Susquehanna International Group cut its First Commonwealth Financial stake by 82.2% in the second quarter, leaving it with 13,982 shares worth approximately $284,000. Institutional investors collectively own 72.58% of the bank.
• First Commonwealth reported quarterly EPS of $0.44, beating estimates by $0.02, while revenue of $139.42 million also exceeded expectations. The company maintains a quarterly dividend of $0.14, equivalent to a 2.7% annual yield.
• Analysts remain generally positive, with a “Moderate Buy” consensus and an average price target of $24.25 versus the stock’s recent price of $20.55. Shares were down 0.7% in the latest session.

Susquehanna International Group LLP trimmed its holdings in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 82.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,982 shares of the bank's stock after selling 64,443 shares during the period. Susquehanna International Group LLP's holdings in First Commonwealth Financial were worth $284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of First Commonwealth Financial by 4.7% in the fourth quarter. State Street Corp now owns 4,854,021 shares of the bank's stock valued at $81,839,000 after buying an additional 216,099 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Commonwealth Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,376,999 shares of the bank's stock worth $73,796,000 after acquiring an additional 34,594 shares during the period. Franklin Resources Inc. grew its stake in shares of First Commonwealth Financial by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank's stock worth $67,238,000 after acquiring an additional 21,061 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in First Commonwealth Financial by 6.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank's stock worth $42,422,000 after acquiring an additional 162,079 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in First Commonwealth Financial by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,467,460 shares of the bank's stock valued at $41,607,000 after acquiring an additional 6,421 shares during the period. 72.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO James R. Reske sold 2,072 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total transaction of $45,273.20. Following the completion of the transaction, the chief financial officer directly owned 75,132 shares in the company, valued at $1,641,634.20. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,216 shares of company stock valued at $126,972. 1.90% of the stock is owned by company insiders.

First Commonwealth Financial Stock Down 0.7%

FCF stock opened at $20.55 on Wednesday. The stock has a 50-day simple moving average of $20.95 and a two-hundred day simple moving average of $19.24. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $22.34. The firm has a market capitalization of $2.08 billion, a PE ratio of 12.61 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $139.42 million for the quarter, compared to the consensus estimate of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. On average, equities analysts predict that First Commonwealth Financial Corporation will post 1.73 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.14 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.56 annualized dividend and a yield of 2.7%. First Commonwealth Financial's dividend payout ratio is currently 34.36%.

Analyst Ratings Changes

Several research firms have commented on FCF. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price objective (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of First Commonwealth Financial in a research report on Friday, August 14th. Royal Bank Of Canada upped their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. Finally, Raymond James Financial restated an "outperform" rating and set a $24.00 target price on shares of First Commonwealth Financial in a research report on Friday, July 31st. Four 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 data from MarketBeat, First Commonwealth Financial has an average rating of "Moderate Buy" and a consensus target price of $24.25.

First Commonwealth Financial 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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