Versor Investments LP Buys Shares of 14,362 First Commonwealth Financial Co. (NYSE:FCF)

Versor Investments LP acquired a new stake in First Commonwealth Financial Co. (NYSE:FCF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,362 shares of the bank’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently made changes to their positions in FCF. Los Angeles Capital Management LLC purchased a new position in First Commonwealth Financial in the 3rd quarter valued at approximately $277,000. Easterly Investment Partners LLC boosted its holdings in First Commonwealth Financial by 23.8% in the third quarter. Easterly Investment Partners LLC now owns 134,700 shares of the bank’s stock valued at $2,310,000 after purchasing an additional 25,935 shares during the period. Principal Financial Group Inc. increased its holdings in First Commonwealth Financial by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock worth $9,243,000 after purchasing an additional 36,001 shares during the period. Farther Finance Advisors LLC increased its holdings in First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after purchasing an additional 1,595 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Commonwealth Financial by 6.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock valued at $332,000 after buying an additional 1,112 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

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 dated Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, for a total transaction 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 represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their target price for the company from $16.00 to $19.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research 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, the stock has an average rating of “Hold” and an average target price of $17.30.

First Commonwealth Financial Stock Performance

Shares of FCF stock opened at $18.74 on Friday. The stock’s 50-day moving average is $17.11 and its two-hundred day moving average is $15.71. 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 Co. has a 1 year low of $12.41 and a 1 year high of $19.50. The firm 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 released 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). The firm 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 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.