Entropy Technologies LP Purchases 13,697 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Entropy Technologies LP grew its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 121.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,977 shares of the bank’s stock after acquiring an additional 13,697 shares during the period. Entropy Technologies LP’s holdings in First Commonwealth Financial were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FCF. Farther Finance Advisors LLC lifted its holdings in First Commonwealth Financial by 2,572.6% in 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 in the last quarter. CWM LLC lifted its holdings in shares of First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after buying an additional 1,633 shares in the last quarter. Quest Partners LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth $34,000. Innealta Capital LLC bought a new position in shares of First Commonwealth Financial during the second quarter worth $51,000. Finally, nVerses Capital LLC bought a new stake in First Commonwealth Financial in the 3rd quarter valued at $72,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Up 0.2 %

Shares of FCF opened at $18.75 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.50. The company has a market cap of $1.92 billion, a PE ratio of 12.67 and a beta of 0.83. The business has a fifty day moving average of $17.11 and a 200 day moving average of $15.69.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The firm had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. First Commonwealth Financial’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, sell-side analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid 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 2.77%. First Commonwealth Financial’s dividend payout ratio is 35.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Janney Montgomery Scott lowered shares of 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 report on Monday, July 29th. Piper Sandler decreased their price target 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. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Finally, StockNews.com cut 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.30.

Insider Transactions at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost 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 in the company, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company 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.