Intech Investment Management LLC Increases Stake in First Commonwealth Financial Co. (NYSE:FCF)

Intech Investment Management LLC increased its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,533 shares of the bank’s stock after purchasing an additional 4,167 shares during the quarter. Intech Investment Management LLC’s holdings in First Commonwealth Financial were worth $1,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of First Commonwealth Financial by 29.9% in the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after buying an additional 384,892 shares during the period. Dimensional Fund Advisors LP lifted its position in First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after purchasing an additional 233,955 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of First Commonwealth Financial during the second quarter valued at approximately $693,000. Texas Permanent School Fund Corp grew its holdings in shares of First Commonwealth Financial by 53.3% in the second quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after purchasing an additional 47,466 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in First Commonwealth Financial during the 3rd quarter valued at $678,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the purchase, the executive vice president now 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.97% of the company’s stock.

First Commonwealth Financial Trading Down 0.8 %

Shares of FCF opened at $18.98 on Thursday. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $17.43 and its 200-day moving average price is $15.98. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.82 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 firm 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 firm posted $0.39 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.74%. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FCF shares. Piper Sandler cut their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.30.

First Commonwealth Financial 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.