First Commonwealth Financial Co. (NYSE:FCF) Stake Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,782,837 shares of the bank’s stock after acquiring an additional 105,116 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.70% of First Commonwealth Financial worth $64,876,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co increased its stake in First Commonwealth Financial by 7.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 92,213 shares of the bank’s stock valued at $1,281,000 after buying an additional 6,145 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of First Commonwealth Financial by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock worth $656,000 after acquiring an additional 3,676 shares during the last quarter. Boston Partners raised its holdings in shares of First Commonwealth Financial by 67.9% during the first quarter. Boston Partners now owns 94,123 shares of the bank’s stock worth $1,310,000 after acquiring an additional 38,068 shares in the last quarter. Somerset Trust Co acquired a new stake in First Commonwealth Financial during the second quarter valued at $248,000. Finally, CWM LLC increased its position in First Commonwealth Financial by 451.1% in 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. Institutional investors and hedge funds own 72.58% of the company’s stock.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler cut their price objective on shares of 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. Four 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, the company has a consensus rating of “Hold” and an average target price of $17.30.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $18.98 on Friday. The business’s 50-day simple moving average is $17.47 and its 200-day simple moving average is $16.00. First Commonwealth Financial Co. has a 52 week low of $12.41 and a 52 week high of $19.96. 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 firm has a market cap of $1.93 billion, a price-to-earnings ratio of 12.82 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results 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 net margin of 21.87% and a return on equity of 11.19%. The firm had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders 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 is currently 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.