Dimensional Fund Advisors LP Purchases 233,955 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Dimensional Fund Advisors LP boosted its position in First Commonwealth Financial Co. (NYSE:FCF) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,987,929 shares of the bank’s stock after acquiring an additional 233,955 shares during the period. Dimensional Fund Advisors LP owned 6.83% of First Commonwealth Financial worth $96,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its stake in shares of First Commonwealth Financial by 451.1% in the second 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. Quest Partners LLC bought a new stake in shares of First Commonwealth Financial in the 2nd quarter worth approximately $34,000. Innealta Capital LLC purchased a new position in shares of First Commonwealth Financial during the second quarter valued at approximately $51,000. Entropy Technologies LP bought a new position in shares of First Commonwealth Financial during the first quarter valued at approximately $152,000. Finally, Natixis Advisors LLC purchased a new stake in First Commonwealth Financial in the second quarter worth $207,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FCF shares. Keefe, Bruyette & Woods boosted their price objective on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $16.00 to $19.00 in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.50.

Insider Activity

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $16.99 per share, with a total value of $49,593.81. Following the transaction, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.97% of the company’s stock.

First Commonwealth Financial Trading Down 1.5 %

Shares of NYSE FCF opened at $16.75 on Wednesday. The stock has a market cap of $1.71 billion, a P/E ratio of 10.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. First Commonwealth Financial Co. has a 1 year low of $11.16 and a 1 year high of $19.01. The firm has a 50-day moving average of $16.80 and a 200 day moving average of $14.68.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. As a group, sell-side analysts expect that First Commonwealth Financial Co. will post 1.44 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%. First Commonwealth Financial’s dividend payout ratio is currently 32.30%.

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.