17,713 Shares in First Commonwealth Financial Co. (NYSE:FCF) Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new stake in First Commonwealth Financial Co. (NYSE:FCF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 17,713 shares of the bank’s stock, valued at approximately $245,000.

Several other large investors have also recently bought and sold shares of FCF. CWM LLC grew its position in shares of First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,633 shares during the period. Quest Partners LLC bought a new position in First Commonwealth Financial during the second quarter worth about $34,000. Innealta Capital LLC acquired a new position in First Commonwealth Financial during the second quarter worth approximately $51,000. Entropy Technologies LP bought a new stake in First Commonwealth Financial in the first quarter valued at approximately $152,000. Finally, Natixis Advisors LLC acquired a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $207,000. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Trading Up 3.7 %

FCF stock opened at $16.99 on Friday. First Commonwealth Financial Co. has a 52 week low of $11.16 and a 52 week high of $19.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The company’s 50-day simple moving average is $16.59 and its 200 day simple moving average is $14.96. The company has a market capitalization of $1.74 billion, a PE ratio of 10.55 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $120.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. As a group, sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.44 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were issued a $0.13 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.52 annualized dividend and a yield of 3.06%. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

FCF has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.50.

Insider Activity

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.97% of the company’s stock.

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.