First Commonwealth Financial Co. (NYSE:FCF) is First Commonwealth Financial Corp PA’s 5th Largest Position

First Commonwealth Financial Corp PA reduced its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 925,618 shares of the bank’s stock after selling 24,953 shares during the period. First Commonwealth Financial comprises about 3.8% of First Commonwealth Financial Corp PA’s holdings, making the stock its 5th largest holding. First Commonwealth Financial Corp PA’s holdings in First Commonwealth Financial were worth $15,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FCF. Farther Finance Advisors LLC raised its stake in shares of First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,595 shares in the last quarter. CWM LLC lifted its holdings in First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after buying an additional 1,633 shares during the last quarter. Quest Partners LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter worth about $34,000. Innealta Capital LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter worth about $51,000. Finally, nVerses Capital LLC purchased a new stake in First Commonwealth Financial during the 3rd quarter worth about $72,000. 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 a number of recent analyst reports. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Piper Sandler reduced their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.30.

First Commonwealth Financial Stock Performance

FCF stock traded up $0.16 during trading on Wednesday, hitting $19.29. The company had a trading volume of 12,698 shares, compared to its average volume of 515,272. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $17.39 and a 200-day moving average price of $15.94. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.96. The firm has a market cap of $1.96 billion, a PE ratio of 12.93 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s payout ratio is 35.14%.

Insider Transactions at First Commonwealth Financial

In related news, EVP Michael P. Mccuen bought 2,919 shares of First Commonwealth Financial stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. This represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.97% of the company’s stock.

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.