First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,163 shares of the bank’s stock after selling 878 shares during the period. Amalgamated Bank’s holdings in First Commonwealth Financial were worth $517,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FCF. Louisiana State Employees Retirement System lifted its position in First Commonwealth Financial by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after purchasing an additional 900 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in First Commonwealth Financial by 6.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock valued at $332,000 after purchasing an additional 1,112 shares during the period. ProShare Advisors LLC lifted its position in First Commonwealth Financial by 6.3% in the first quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock valued at $284,000 after purchasing an additional 1,217 shares during the period. Farther Finance Advisors LLC lifted its position in First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,595 shares during the period. Finally, CWM LLC lifted its position in First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Trading Up 0.1 %

Shares of FCF opened at $18.74 on Friday. 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 firm has a 50 day simple moving average of $17.11 and a 200-day simple moving average of $15.71. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.50. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 12.66 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data 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). The business had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Equities analysts forecast that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FCF. Royal Bank of Canada lifted their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target 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. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Finally, Piper Sandler reduced their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.30.

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.