First Commonwealth Financial Co. (NYSE:FCF) Stock Holdings Trimmed by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA trimmed its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 925,618 shares of the bank’s stock after selling 24,953 shares during the quarter. First Commonwealth Financial accounts for about 3.8% of First Commonwealth Financial Corp PA’s portfolio, making the stock its 5th largest position. First Commonwealth Financial Corp PA owned approximately 0.90% of First Commonwealth Financial worth $15,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCF. BNP Paribas Financial Markets grew its stake in First Commonwealth Financial by 64.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock valued at $598,000 after purchasing an additional 13,643 shares during the last quarter. FMR LLC grew its stake in First Commonwealth Financial by 22.0% during the 3rd quarter. FMR LLC now owns 24,190 shares of the bank’s stock valued at $415,000 after purchasing an additional 4,360 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in First Commonwealth Financial during the 3rd quarter valued at about $409,000. Charles Schwab Investment Management Inc. grew its stake in First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after purchasing an additional 105,116 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in First Commonwealth Financial by 6.9% during the 3rd quarter. Intech Investment Management LLC now owns 64,533 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 4,167 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

First Commonwealth Financial Price Performance

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

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $119.47 million. During the same period in the previous year, the company posted $0.39 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

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

Wall Street Analyst Weigh In

FCF has been the topic of several research analyst reports. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Piper Sandler decreased their price objective 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.30.

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.97% of the company’s stock.

About First Commonwealth Financial

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.