Intech Investment Management LLC Acquires 4,167 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Intech Investment Management LLC increased its stake in First Commonwealth Financial Co. (NYSE:FCF) by 6.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 64,533 shares of the bank’s stock after buying an additional 4,167 shares during the quarter. Intech Investment Management LLC owned 0.06% of First Commonwealth Financial worth $1,107,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 233,955 shares during the last quarter. American Century Companies Inc. lifted its holdings in First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after purchasing an additional 384,892 shares during the last quarter. Bank of New York Mellon Corp boosted its position in First Commonwealth Financial by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock worth $16,702,000 after purchasing an additional 33,759 shares during the period. Principal Financial Group Inc. increased its stake in shares of First Commonwealth Financial by 7.2% in the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock worth $9,243,000 after purchasing an additional 36,001 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of First Commonwealth Financial by 0.6% in the second quarter. Federated Hermes Inc. now owns 291,757 shares of the bank’s stock valued at $4,029,000 after purchasing an additional 1,850 shares during the period. Institutional investors own 72.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FCF. Piper Sandler reduced their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.30.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen purchased 2,919 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.97% of the stock is currently owned by insiders.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $18.98 on Thursday. The company’s 50 day simple moving average is $17.43 and its two-hundred day simple moving average is $15.98. The stock has a market capitalization of $1.93 billion, a PE ratio of 12.82 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 0.92. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data 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 business had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. First Commonwealth Financial’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.14%.

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.