Hsbc Holdings PLC Acquires New Holdings in First Commonwealth Financial Corporation $FCF

Hsbc Holdings PLC bought a new position in shares of First Commonwealth Financial Corporation (NYSE:FCF) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 44,260 shares of the bank’s stock, valued at approximately $746,000.

Other hedge funds have also recently bought and sold shares of the company. DGS Capital Management LLC acquired a new stake in shares of First Commonwealth Financial during the fourth quarter worth $175,000. Mercer Global Advisors Inc. ADV acquired a new position in First Commonwealth Financial in the 4th quarter worth $907,000. Fuller & Thaler Asset Management Inc. boosted its stake 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 purchasing an additional 162,079 shares during the period. Voloridge Investment Management LLC boosted its stake in First Commonwealth Financial by 23.4% in the 4th quarter. Voloridge Investment Management LLC now owns 367,438 shares of the bank’s stock worth $6,195,000 after purchasing an additional 69,728 shares during the period. Finally, Wellington Management Group LLP bought a new position in First Commonwealth Financial during the 4th quarter worth about $15,685,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Price Performance

Shares of FCF opened at $20.43 on Wednesday. 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 Corporation has a twelve month low of $15.00 and a twelve month high of $20.87. The stock has a market capitalization of $2.08 billion, a P/E ratio of 13.53 and a beta of 0.74. The company has a 50 day moving average of $19.36 and a 200-day moving average of $18.36.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data 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 return on equity of 10.56% and a net margin of 21.19%.The business had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.14 per share. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.7%. First Commonwealth Financial’s payout ratio is presently 37.09%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Insiders Place Their Bets

In related news, EVP Michael P. Mccuen sold 5,250 shares of First Commonwealth Financial stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the sale, the executive vice president owned 56,861 shares of the company’s stock, valued at approximately $1,056,477.38. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Norman J. Montgomery sold 12,964 shares of First Commonwealth Financial stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $18.37, for a total value of $238,148.68. Following the completion of the sale, the executive vice president directly owned 50,104 shares in the company, valued at approximately $920,410.48. This represents a 20.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,430 shares of company stock valued at $914,266 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

About First Commonwealth Financial

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.