Diversified Trust Co Buys Shares of 10,180 First Commonwealth Financial Co. (NYSE:FCF)

Diversified Trust Co purchased a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,180 shares of the bank’s stock, valued at approximately $175,000.

Several other institutional investors have also recently made changes to their positions in FCF. American Century Companies Inc. grew its holdings in First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after acquiring an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First Commonwealth Financial by 3.5% during the second 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 raised its stake in First Commonwealth Financial by 6.9% in the first quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock worth $13,373,000 after buying an additional 61,823 shares in the last quarter. Intech Investment Management LLC bought a new stake in First Commonwealth Financial during the 2nd quarter valued at $834,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of First Commonwealth Financial in the 2nd quarter valued at $693,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Up 3.7 %

Shares of FCF stock opened at $16.99 on Friday. The stock’s 50-day simple moving average is $16.59 and its 200-day simple moving average is $14.95. The firm has a market capitalization of $1.74 billion, a PE ratio of 10.55 and a beta of 0.83. First Commonwealth Financial Co. has a fifty-two week low of $11.16 and a fifty-two week high of $19.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.34 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts expect that First Commonwealth Financial Co. will post 1.44 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.30%.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction on Monday, September 23rd. The shares were acquired at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the transaction, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased 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 report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.50.

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.