First Commonwealth Financial Co. (NYSE:FCF) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 213,437 shares of the bank’s stock after buying an additional 6,091 shares during the period. Nordea Investment Management AB’s holdings in First Commonwealth Financial were worth $3,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after acquiring an additional 105,116 shares in the last quarter. Royce & Associates LP acquired a new position in shares of First Commonwealth Financial during the third quarter worth $678,000. Barclays PLC boosted its stake in shares of First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after purchasing an additional 116,295 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of First Commonwealth Financial by 64.2% in the third quarter. BNP Paribas Financial Markets now owns 34,892 shares of the bank’s stock valued at $598,000 after purchasing an additional 13,643 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in First Commonwealth Financial by 53.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after buying an additional 47,466 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Trading Down 3.2 %

Shares of NYSE FCF opened at $15.89 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 10.74 and a beta of 0.86. The stock’s 50 day moving average price is $17.94 and its two-hundred day moving average price is $16.88. 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 Co. has a 52-week low of $12.41 and a 52-week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced 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). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered their price objective on 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. Finally, StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.70.

About First Commonwealth Financial

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.