Boston Partners Buys 144,720 Shares of First Commonwealth Financial Corporation $FCF

Boston Partners increased its stake in First Commonwealth Financial Corporation by 141.5% in Q2, now owning 246,990 shares worth $4,009,000. Other institutional investors also increased their stakes. Analysts have mixed ratings on FCF, with a consensus rating of 'Moderate Buy' and a price target of $19.63. FCF's stock opened at $16.25, with a market cap of $1.69 billion. The company reported Q3 earnings of $0.39 per share, missing estimates. FCF announced a quarterly dividend of $0.135 per share.

Boston Partners lifted its stake in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 141.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,990 shares of the bank's stock after buying an additional 144,720 shares during the period. Boston Partners owned approximately 0.24% of First Commonwealth Financial worth $4,009,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in First Commonwealth Financial by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank's stock worth $64,642,000 after purchasing an additional 203,052 shares during the period. Franklin Resources Inc. increased its stake in shares of First Commonwealth Financial by 22.5% in the second quarter. Franklin Resources Inc. now owns 3,922,543 shares of the bank's stock worth $63,663,000 after buying an additional 719,680 shares during the period. Geode Capital Management LLC raised its holdings in First Commonwealth Financial by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank's stock valued at $41,039,000 after buying an additional 56,324 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in First Commonwealth Financial by 3.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,231,886 shares of the bank's stock valued at $34,684,000 after buying an additional 70,286 shares during the period. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter valued at $6,257,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCF has been the subject of several recent analyst reports. Zacks Research downgraded shares of First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. DA Davidson cut First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of First Commonwealth Financial in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, First Commonwealth Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.63.

Get Our Latest Analysis on First Commonwealth Financial

First Commonwealth Financial Trading Down 0.7%

Shares of NYSE FCF opened at $16.25 on Friday. First Commonwealth Financial Corporation has a 1 year low of $13.54 and a 1 year high of $19.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a 50-day moving average of $16.26 and a 200 day moving average of $16.47. The stock has a market cap of $1.69 billion, a P/E ratio of 11.78 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, October 28th. The bank reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). First Commonwealth Financial had a net margin of 20.00% and a return on equity of 10.12%. The business had revenue of $135.98 million for the quarter, compared to the consensus estimate of $136.30 million. During the same period in the prior year, the business posted $0.31 EPS. As a group, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, November 7th. First Commonwealth Financial's payout ratio is 39.13%.

Insiders Place Their Bets

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $16.99, for a total transaction of $37,208.10. Following the completion of the sale, the chief financial officer directly owned 85,866 shares in the company, valued at approximately $1,458,863.34. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael P. Mccuen bought 3,090 shares of the firm's stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $16.19 per share, with a total value of $50,027.10. Following the completion of the acquisition, the executive vice president directly owned 62,111 shares of the company's stock, valued at approximately $1,005,577.09. The trade was a 5.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 6,916 shares of company stock worth $115,233 and sold 5,898 shares worth $99,664. Corporate insiders own 2.17% of the company's stock.

First Commonwealth Financial Company Profile

(Free Report)

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.

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