Squarepoint Ops LLC Takes $245,000 Position in First Commonwealth Financial Co. (NYSE:FCF)

Squarepoint Ops LLC acquired a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 17,713 shares of the bank’s stock, valued at approximately $245,000.

Other large investors have also bought and sold shares of the company. Buckingham Capital Management Inc. bought a new position in First Commonwealth Financial in the 1st quarter valued at approximately $407,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of First Commonwealth Financial by 38.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,530 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 22,444 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of First Commonwealth Financial by 137.7% during the 1st quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock valued at $957,000 after acquiring an additional 39,811 shares in the last quarter. GSA Capital Partners LLP grew its position in First Commonwealth Financial by 288.4% during the 1st quarter. GSA Capital Partners LLP now owns 65,603 shares of the bank’s stock worth $913,000 after acquiring an additional 48,714 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in First Commonwealth Financial by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock worth $1,240,000 after purchasing an additional 887 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCF has been the topic of several research reports. Keefe, Bruyette & Woods boosted 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. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped 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. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $16.00 to $19.00 in a report on Monday, July 29th. Finally, Piper Sandler increased their price objective on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Hold” and an average target price of $17.50.

First Commonwealth Financial Trading Up 3.7 %

NYSE:FCF opened at $16.99 on Friday. First Commonwealth Financial Co. has a 52 week low of $11.16 and a 52 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. The firm’s fifty day moving average is $16.59 and its 200-day moving average is $14.96. The firm has a market cap of $1.74 billion, a P/E ratio of 10.55 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, beating 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 business had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.34 million. During the same quarter in the prior year, the firm posted $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 firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.06%. First Commonwealth Financial’s payout ratio is currently 32.30%.

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The stock was 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 in the company, valued at $979,014.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.97% of the company’s stock.

About First Commonwealth Financial

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.