First Commonwealth Financial Co. (NYSE:FCF) Stake Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 12.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 126,583 shares of the bank’s stock after selling 18,450 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Commonwealth Financial were worth $2,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in shares of First Commonwealth Financial by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock valued at $1,240,000 after acquiring an additional 887 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of First Commonwealth Financial by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after buying an additional 900 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in First Commonwealth Financial by 6.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank’s stock valued at $332,000 after buying an additional 1,112 shares during the period. ProShare Advisors LLC lifted its stake in First Commonwealth Financial by 6.3% in the 1st quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock worth $284,000 after acquiring an additional 1,217 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock worth $28,000 after acquiring an additional 1,595 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $18.73 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $1.92 billion, a P/E ratio of 12.66 and a beta of 0.83. The business has a 50-day moving average of $17.07 and a two-hundred day moving average of $15.66. First Commonwealth Financial Co. has a fifty-two week low of $12.41 and a fifty-two week high of $19.50.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (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 company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. During the same period in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is 35.14%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FCF shares. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target 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. Piper Sandler cut their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on 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. Finally, StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, First Commonwealth Financial has a consensus rating of “Hold” and a consensus price target of $17.30.

Insider Activity

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.97% of the stock is currently owned by company insiders.

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.