2,700 Shares in First Commonwealth Financial Co. (NYSE:FCF) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,700 shares of the bank’s stock, valued at approximately $46,000.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised 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 worth $96,503,000 after acquiring an additional 233,955 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after purchasing an additional 105,116 shares in the last quarter. American Century Companies Inc. lifted its position in shares of First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after buying an additional 384,892 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after buying an additional 33,759 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of First Commonwealth Financial by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after buying an additional 36,001 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.93 on Monday. The firm has a market cap of $1.72 billion, a P/E ratio of 11.44 and a beta of 0.86. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.96. The business’s 50-day moving average price is $18.00 and its 200 day moving average price is $16.54. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

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

First Commonwealth Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 3.07%. First Commonwealth Financial’s payout ratio is currently 35.14%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.