First Commonwealth Financial Co. (NYSE:FCF) Stake Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 13.2% during the third quarter, Holdings Channel.com reports. The fund owned 180,248 shares of the bank’s stock after selling 27,439 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Commonwealth Financial were worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCF. Charles Schwab Investment Management Inc. lifted its position in shares of 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 in the last quarter. Royce & Associates LP acquired a new stake in shares of First Commonwealth Financial in the third quarter worth $678,000. Texas Permanent School Fund Corp grew its holdings in shares of First Commonwealth Financial by 53.3% during the second 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 in the last quarter. Principal Financial Group Inc. grew its stake in First Commonwealth Financial by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after acquiring an additional 36,001 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in First Commonwealth Financial during the 2nd quarter valued at about $693,000. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Trading Up 0.2 %

Shares of FCF stock opened at $18.28 on Friday. The company has a market cap of $1.86 billion, a PE ratio of 12.35 and a beta of 0.86. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $17.91 and its two-hundred day moving average is $16.38.

First Commonwealth Financial (NYSE:FCF) last announced 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). The company had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Equities analysts predict that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the transaction, the executive vice president now owns 57,623 shares of the company’s stock, valued at $979,014.77. This trade represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FCF. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Piper Sandler lowered their target price 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, Keefe, Bruyette & Woods raised their price target on 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, First Commonwealth Financial has an average 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.