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FCF First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a financial services company with 119 community banking offices in 26 counties throughout western and central Pennsylvania and throughout Ohio, as well as business banking operations in Pittsburgh, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson, and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency.

Company profile

Ticker
FCF
Exchange
CEO
Thomas Price
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
251428528

FCF stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors
Top 50 of 160 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$53.85M 135.36K 135.85K -0.4
$17.92M 236.21K 188.65K +25.2
$13.38M 60.57K 56.55K +7.1
$11.06M 90.55K 92.25K -1.8
$9.76M 679.39K 620.56K +9.5
$7.76M 231.53K 231.53K 0
$5.23M 22.19K 22.02K +0.8
$4.02M 75.31K 63.72K +18.2
$3.63M 31.79K 33.38K -4.8
$3.62M 23.77K 24.13K -1.5
$3.34M 38.67K 48.23K -19.8
$3.16M 100.23K 110.66K -9.4
$2.96M 1.43K 1.5K -4.3
$2.81M 38.04K 39.87K -4.6
$2.31M 35.49K 42.89K -17.2
$2.1M 677 641 +5.6
$2.08M 15.81K 15.22K +3.9
$1.98M 4.33K 4.39K -1.3
$1.93M 31.69K 27.22K +16.4
$1.86M 6.92K 6.89K +0.5
$1.82M 6.17K 6.26K -1.5
$1.8M 8.03K 8.13K -1.2
$1.76M 10.69K 11.65K -8.3
$1.71M 8.61K 8.88K -3.1
$1.67M 9.5K 9.5K 0
$1.66M 6.46K 9.07K -28.7
$1.66M 23.6K 22.66K +4.2
$1.65M 28.37K 28.98K -2.1
$1.61M 10.08K 7.32K +37.7
$1.55M 3.91K 3.87K +0.9
$1.53M 3.3K 3.37K -2.0
$1.52M 11.47K 12.15K -5.6
$1.51M 7.12K 7K +1.7
$1.5M 11.01K 10.36K +6.3
$1.39M 4.55K 2.74K +66.4
$1.38M 25.45K 27K -5.7
$1.38M 45.42K 45.23K +0.4
$1.29M 5.66K 5.66K 0
$1.26M 13.7K 13.7K 0
$1.24M 4.47K 4.45K +0.6
$1.23M 11.72K 11.18K +4.9
$1.22M 3.83K 4.01K -4.7
$1.19M 6.43K 6.43K 0
$1.15M 6.26K 5.87K +6.7
$1.14M 18.72K 17.76K +5.4
$1.11M 3.69K 2.44K +51.0
$1.1M 2.63K 2.64K -0.3
$1.09M 8.05K 8.2K -1.9
$1.07M 17K 19.25K -11.7
$1.07M 3.8K 1.63K +132.9
Holdings list only includes long positions. Only includes long positions.

Calendar

7 May 21
3 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jun 21 Norman J Montgomery Common Stock Sell Dispose S No No 15.22 20,000 304.4K 56,137
27 Apr 21 Charley Ray T Common Stock Grant Aquire A No No 14.44 2,216 32K 288,187
27 Apr 21 Claus Gary R Common Stock Grant Aquire A No No 14.44 2,216 32K 45,755
27 Apr 21 Gorney Jon L Common Stock Grant Aquire A No No 14.44 2,148 31.02K 30,052
27 Apr 21 Greenfield David W Common Stock Grant Aquire A No No 14.44 2,216 32K 42,903

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

66.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 181 174 +4.0%
Opened positions 27 23 +17.4%
Closed positions 20 25 -20.0%
Increased positions 48 50 -4.0%
Reduced positions 74 65 +13.8%
13F shares
Current Prev Q Change
Total value 1.62B 710.98M +127.3%
Total shares 63.9M 64.23M -0.5%
Total puts 24.4K 14.5K +68.3%
Total calls 37.9K 21.6K +75.5%
Total put/call ratio 0.6 0.7 -4.1%
Largest owners
Shares Value Change
BLK Blackrock 14.15M $203.41M +0.1%
Vanguard 10.56M $151.75M +1.3%
Dimensional Fund Advisors 6.54M $93.98M -3.3%
STT State Street 4.07M $58.56M +17.0%
JPM JPMorgan Chase & Co. 2.19M $31.5M +11.3%
Charles Schwab Investment Management 1.67M $24.02M -0.3%
Geode Capital Management 1.61M $23.16M +1.4%
NTRS Northern Trust 1.51M $21.75M -20.1%
BK Bank Of New York Mellon 1.45M $20.86M -0.4%
Fuller & Thaler Asset Management 1.29M $18.58M +254.7%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.2M EXIT
Fuller & Thaler Asset Management 1.29M +928.51K +254.7%
STT State Street 4.07M +591.87K +17.0%
NTRS Northern Trust 1.51M -380.91K -20.1%
Renaissance Technologies 128.4K -321.7K -71.5%
Arrowstreet Capital, Limited Partnership 299.29K -308.06K -50.7%
Citadel Advisors 244.88K +223.71K +1057.0%
JPM JPMorgan Chase & Co. 2.19M +223.08K +11.3%
Dimensional Fund Advisors 6.54M -220.07K -3.3%
Millennium Management 157.3K -197.89K -55.7%

Financial report summary

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Management Discussion
  • For the three months ended March 31, 2021, First Commonwealth had net income of $39.8 million, or $0.41 diluted earnings per share, compared to net income of $4.7 million, or $0.05 diluted earnings per share, in the three months ended March 31, 2020. The increase in net income was primarily the result of a $4.4 million negative provision for credit losses recognized in the first quarter compared to an expense of $31.0 million in provision for credit losses recognized in the same period in 2020. This was partially offset by a $8.5 million increase in the income tax provision due to higher income before income taxes.
  • For the three months ended March 31, 2021, the Company’s return on average equity was 14.98% and its return on average assets was 1.77%, compared to 1.77% and 0.23%, respectively, for the three months ended March 31, 2020.
  • Net interest income, on a fully taxable equivalent basis, was $69.8 million in the first three months of 2021, compared to $68.1 million for the same period in 2020. The increase in net interest income can be attributed to a 51 basis point decrease in the cost of interest-bearing liabilities offset by a 64 basis point decrease in the yield on interest-earning assets. Net interest income comprises the majority of our operating revenue (net interest income before provision expense plus noninterest income), at 71.7% and 77.8% for the three months ended March 31, 2021 and 2020, respectively.
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