AQR Capital Management LLC Has $1.04 Million Stake in First Commonwealth Financial Co. (NYSE:FCF)

AQR Capital Management LLC increased its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 53.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,340 shares of the bank’s stock after buying an additional 26,348 shares during the quarter. AQR Capital Management LLC owned about 0.07% of First Commonwealth Financial worth $1,040,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FCF. CWM LLC grew its holdings in shares of First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares in the last quarter. Quest Partners LLC acquired a new stake in First Commonwealth Financial during the second quarter worth about $34,000. Innealta Capital LLC bought a new position in First Commonwealth Financial in the 2nd quarter valued at about $51,000. Entropy Technologies LP acquired a new position in shares of First Commonwealth Financial in the 1st quarter valued at approximately $152,000. Finally, Natixis Advisors LLC bought a new stake in shares of First Commonwealth Financial during the 2nd quarter worth approximately $207,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of FCF opened at $16.99 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.74 billion, a PE ratio of 10.96 and a beta of 0.83. First Commonwealth Financial Co. has a 12-month low of $11.16 and a 12-month high of $19.01. The business has a 50-day simple moving average of $16.59 and a two-hundred day simple moving average of $14.95.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.34 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Analysts anticipate that First Commonwealth Financial Co. will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio is presently 33.55%.

Wall Street Analysts Forecast Growth

FCF has been the topic of a number of recent analyst reports. Janney Montgomery Scott cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Piper Sandler boosted 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. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised 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 note 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.50.

Insider Transactions at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average price of $16.99 per share, with a total value of $49,593.81. Following the transaction, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.97% of the company’s stock.

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.