16,149 Shares in First Commonwealth Financial Co. (NYSE:FCF) Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new stake in First Commonwealth Financial Co. (NYSE:FCF) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 16,149 shares of the bank’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in 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 worth $96,503,000 after acquiring an additional 233,955 shares during the period. American Century Companies Inc. lifted its holdings 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 worth $23,107,000 after purchasing an additional 384,892 shares during the period. Bank of New York Mellon Corp grew its position in First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after buying an additional 33,759 shares in the last quarter. First Commonwealth Financial Corp PA increased its stake 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 valued at $13,373,000 after buying an additional 61,823 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of 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 buying an additional 36,001 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Performance

FCF opened at $18.62 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.90 billion, a PE ratio of 12.58 and a beta of 0.83. The business has a fifty day simple moving average of $17.15 and a 200-day simple moving average of $15.76. First Commonwealth Financial Co. has a fifty-two week low of $12.41 and a fifty-two week high of $19.50.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results 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 company had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. As a group, equities analysts predict that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 is currently 35.14%.

Insider Activity at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction dated 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 completion of the acquisition, the executive vice president now owns 57,623 shares of the company’s stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The acquisition 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 insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FCF shares. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Piper Sandler lowered their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One 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. According to MarketBeat, First Commonwealth Financial 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.