First Commonwealth Financial Co. (NYSE:FCF) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its position in First Commonwealth Financial Co. (NYSE:FCF) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 213,437 shares of the bank’s stock after purchasing an additional 6,091 shares during the period. Nordea Investment Management AB owned about 0.21% of First Commonwealth Financial worth $3,611,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in First Commonwealth Financial by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after acquiring an additional 105,116 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $678,000. Barclays PLC raised its position in shares of First Commonwealth Financial by 121.8% during the 3rd quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in First Commonwealth Financial by 64.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock valued at $598,000 after buying an additional 13,643 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in First Commonwealth Financial by 53.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock valued at $1,886,000 after buying an additional 47,466 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $15.89 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. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 10.74 and a beta of 0.86. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.96. The firm has a 50 day moving average price of $17.94 and a 200 day moving average price of $16.88.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $119.47 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 3.27%. First Commonwealth Financial’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

FCF has been the topic of several recent research reports. Piper Sandler reduced their price objective 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 raised their price target on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.70.

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.