Los Angeles Capital Management LLC Invests $277,000 in First Commonwealth Financial Co. (NYSE:FCF)

Los Angeles Capital Management LLC bought a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,149 shares of the bank’s stock, valued at approximately $277,000.

Several other hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. raised its position in 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 valued at $23,107,000 after purchasing an additional 384,892 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of First Commonwealth Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after buying an additional 233,955 shares during the period. First Commonwealth Financial Corp PA lifted its position in First Commonwealth Financial by 6.9% during the 1st quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock worth $13,373,000 after acquiring an additional 61,823 shares in the last quarter. Intech Investment Management LLC purchased a new position in First Commonwealth Financial in the 2nd quarter worth approximately $834,000. Finally, Hantz Financial Services Inc. acquired a new stake in First Commonwealth Financial in the second quarter valued at approximately $693,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Insider Transactions at First Commonwealth Financial

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

Analyst Upgrades and Downgrades

FCF has been the subject of several analyst reports. Piper Sandler decreased their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Janney Montgomery Scott downgraded 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 report on Monday, July 29th. Royal Bank of Canada lifted their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their target price on 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Hold” and a consensus price target of $17.30.

First Commonwealth Financial Stock Down 0.6 %

NYSE:FCF opened at $18.62 on Tuesday. The stock has a 50-day simple moving average of $17.15 and a 200 day simple moving average of $15.76. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.50. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92.

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

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.79%. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.14%.

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.