Inspire Investing LLC Trims Stock Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Inspire Investing LLC lowered its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 24,086 shares of the bank’s stock after selling 1,146 shares during the quarter. Inspire Investing LLC’s holdings in First Commonwealth Financial were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake 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 during the last quarter. Quest Partners LLC purchased a new position in shares of First Commonwealth Financial during the second quarter valued at approximately $34,000. Innealta Capital LLC acquired a new stake in First Commonwealth Financial during the second quarter worth approximately $51,000. Diversified Trust Co purchased a new stake in First Commonwealth Financial in the 3rd quarter worth approximately $175,000. Finally, Algert Global LLC acquired a new position in First Commonwealth Financial in the 2nd quarter valued at $142,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $19.00 in a report on Monday, July 29th. StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective 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. Royal Bank of Canada increased their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler boosted their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.50.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.97% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of NYSE:FCF opened at $17.57 on Thursday. The business has a 50-day moving average of $16.66 and a two-hundred day moving average of $15.04. The firm has a market capitalization of $1.80 billion, a PE ratio of 10.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. First Commonwealth Financial Co. has a 12 month low of $11.16 and a 12 month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.34 million. During the same quarter in the prior year, the company earned $0.42 EPS. The company’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that First Commonwealth Financial Co. will post 1.44 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

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.