Teachers Advisors LLC Sells 1,018,159 Shares of First Commonwealth Financial Corporation (FCF)

Teachers Advisors LLC reduced its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 85.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,961 shares of the bank’s stock after selling 1,018,159 shares during the period. Teachers Advisors LLC owned approximately 0.19% of First Commonwealth Financial Corporation worth $2,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in First Commonwealth Financial Corporation by 3.4% in the first quarter. Principal Financial Group Inc. now owns 687,165 shares of the bank’s stock valued at $9,112,000 after buying an additional 22,470 shares during the period. OppenheimerFunds Inc. raised its position in First Commonwealth Financial Corporation by 65.2% in the first quarter. OppenheimerFunds Inc. now owns 17,070 shares of the bank’s stock valued at $226,000 after buying an additional 6,739 shares during the period. Municipal Employees Retirement System of Michigan raised its position in First Commonwealth Financial Corporation by 1.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the bank’s stock valued at $270,000 after buying an additional 260 shares during the period. BB&T Securities LLC acquired a new position in First Commonwealth Financial Corporation during the first quarter valued at about $444,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in First Commonwealth Financial Corporation during the first quarter valued at about $350,000. 60.79% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Corporation (FCF) traded down 0.08% during mid-day trading on Friday, hitting $12.44. 104,853 shares of the stock traded hands. First Commonwealth Financial Corporation has a one year low of $9.62 and a one year high of $14.61. The company has a 50 day moving average price of $12.85 and a 200-day moving average price of $13.09. The stock has a market capitalization of $1.21 billion, a PE ratio of 17.57 and a beta of 0.97.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its earnings results on Wednesday, July 26th. The bank reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $76.82 million. First Commonwealth Financial Corporation had a net margin of 21.61% and a return on equity of 9.45%. During the same period in the previous year, the company earned $0.14 EPS. Equities analysts anticipate that First Commonwealth Financial Corporation will post $0.80 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, August 3rd. First Commonwealth Financial Corporation’s dividend payout ratio is 45.07%.

COPYRIGHT VIOLATION NOTICE: “Teachers Advisors LLC Sells 1,018,159 Shares of First Commonwealth Financial Corporation (FCF)” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://www.com-unik.info/2017/08/18/teachers-advisors-llc-sells-1018159-shares-of-first-commonwealth-financial-corporation-fcf.html.

Several research firms have recently weighed in on FCF. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 price objective on shares of First Commonwealth Financial Corporation in a report on Thursday, August 10th. Zacks Investment Research raised shares of First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, August 2nd. BidaskClub lowered shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada began coverage on shares of First Commonwealth Financial Corporation in a report on Monday, July 17th. They set an “outperform” rating and a $14.00 price objective for the company. Finally, Canaccord Genuity raised shares of First Commonwealth Financial Corporation from a “speculative buy” rating to a “buy” rating and set a C$4.25 price objective for the company in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. First Commonwealth Financial Corporation presently has a consensus rating of “Buy” and a consensus target price of $10.21.

In related news, Director Stephen Reid acquired 35,700 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $119,595.00. Over the last quarter, insiders have purchased 88,444 shares of company stock valued at $271,168. 1.72% of the stock is owned by corporate insiders.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Institutional Ownership by Quarter for First Commonwealth Financial Corporation (NYSE:FCF)

What are top analysts saying about First Commonwealth Financial Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for First Commonwealth Financial Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit