Voya Investment Management LLC Grows Position in First Commonwealth Financial Corporation $FCF

Key Points

• Voya Investment Management LLC significantly increased its ownership in First Commonwealth Financial Corporation by 393.5%, holding a total of 161,216 shares valued at approximately $2.5 million as of the end of the first quarter.
• The company reported an earnings per share (EPS) of $0.38 for the last quarter, exceeding estimates of $0.34, alongside revenues of $131.33 million.
• First Commonwealth Financial recently declared a quarterly dividend of $0.135, representing a 3.1% dividend yield with a payout ratio of 41.54%.

Voya Investment Management LLC grew its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 393.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 161,216 shares of the bank's stock after acquiring an additional 128,547 shares during the quarter. Voya Investment Management LLC owned about 0.15% of First Commonwealth Financial worth $2,505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FCF. Millennium Management LLC lifted its position in shares of First Commonwealth Financial by 700.8% during the 1st quarter. Millennium Management LLC now owns 384,829 shares of the bank's stock valued at $5,980,000 after acquiring an additional 336,775 shares during the period. Nuveen LLC bought a new stake in shares of First Commonwealth Financial during the 1st quarter valued at $5,077,000. Charles Schwab Investment Management Inc. lifted its position in shares of First Commonwealth Financial by 5.1% during 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 period. Raymond James Financial Inc. lifted its position in shares of First Commonwealth Financial by 106.2% during the 1st quarter. Raymond James Financial Inc. now owns 204,795 shares of the bank's stock valued at $3,183,000 after acquiring an additional 105,478 shares during the period. Finally, Vest Financial LLC bought a new stake in shares of First Commonwealth Financial during the 1st quarter valued at $1,473,000. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded up $0.08 during mid-day trading on Tuesday, reaching $17.43. 137,238 shares of the company's stock were exchanged, compared to its average volume of 685,135. The business's fifty day simple moving average is $17.06 and its 200 day simple moving average is $16.12. The firm has a market capitalization of $1.82 billion, a PE ratio of 13.40 and a beta of 0.85. First Commonwealth Financial Corporation has a one year low of $13.54 and a one year high of $19.96. 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 (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. The business had revenue of $131.33 million for 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 period last year, the company posted $0.37 earnings per share. On average, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.135 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a dividend yield of 3.1%. First Commonwealth Financial's payout ratio is 41.54%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the company's stock in a transaction dated 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 in the company, valued at $1,562,113.44. This represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Mccuen bought 2,826 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average price of $17.67 per share, for a total transaction of $49,935.42. Following the completion of the purchase, the executive vice president directly owned 59,021 shares in the company, valued at approximately $1,042,901.07. The trade was a 5.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.90.

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.