Entropy Technologies LP Buys 13,697 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Entropy Technologies LP lifted its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 121.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,977 shares of the bank’s stock after buying an additional 13,697 shares during the period. Entropy Technologies LP’s holdings in First Commonwealth Financial were worth $428,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in shares of First Commonwealth Financial by 72.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock worth $1,294,000 after acquiring an additional 38,990 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of First Commonwealth Financial by 137.7% during the 1st quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock worth $957,000 after buying an additional 39,811 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of First Commonwealth Financial by 53.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after buying an additional 47,466 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $693,000. Finally, Algert Global LLC purchased a new stake in shares of First Commonwealth Financial during the second quarter valued at approximately $142,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $18.75 on Friday. The firm has a market cap of $1.92 billion, a P/E ratio of 12.67 and a beta of 0.83. First Commonwealth Financial Co. has a twelve month low of $12.41 and a twelve month high of $19.50. 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 company has a 50 day moving average of $17.11 and a 200 day moving average of $15.69.

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

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.77%. First Commonwealth Financial’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FCF. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler lowered their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Janney Montgomery Scott cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $19.00 in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Commonwealth Financial presently has an average rating of “Hold” and an average target price of $17.30.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.97% of the stock is owned by insiders.

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.