Farther Finance Advisors LLC Buys 1,595 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Farther Finance Advisors LLC boosted its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 2,572.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,657 shares of the bank’s stock after acquiring an additional 1,595 shares during the period. Farther Finance Advisors LLC’s holdings in First Commonwealth Financial were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after acquiring an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $96,503,000 after purchasing an additional 233,955 shares during the period. First Commonwealth Financial Corp PA grew its position in shares of First Commonwealth Financial by 6.9% in the 1st quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock worth $13,373,000 after buying an additional 61,823 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at about $834,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of First Commonwealth Financial during the second quarter valued at about $693,000. Institutional investors own 72.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target 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. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Piper Sandler dropped their price target on 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. Finally, StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. 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 stock. According to MarketBeat, First Commonwealth Financial currently has an average rating of “Hold” and a consensus target price of $17.30.

Insiders Place Their Bets

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 acquired at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.97% of the stock is currently owned by insiders.

First Commonwealth Financial Trading Up 0.2 %

Shares of FCF stock opened at $18.75 on Friday. 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 52-week low of $12.41 and a 52-week high of $19.50. The stock has a fifty day simple moving average of $17.11 and a two-hundred day simple moving average of $15.69. The firm has a market capitalization of $1.92 billion, a PE ratio of 12.67 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. First Commonwealth Financial’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict 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. Investors of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.77%. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

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.