Mutual of America Capital Management LLC Sells 1,414 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Mutual of America Capital Management LLC trimmed its position in First Commonwealth Financial Co. (NYSE:FCF) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,348 shares of the bank’s stock after selling 1,414 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Commonwealth Financial were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. increased its position in First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after acquiring an additional 384,892 shares during the period. Dimensional Fund Advisors LP lifted its holdings in 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 valued at $96,503,000 after purchasing an additional 233,955 shares during the last quarter. Intech Investment Management LLC bought a new position in First Commonwealth Financial in the 2nd quarter valued at $834,000. Hantz Financial Services Inc. acquired a new position in shares of First Commonwealth Financial during the second quarter worth approximately $693,000. Finally, Texas Permanent School Fund Corp raised its position in shares of First Commonwealth Financial by 53.3% during the second quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock worth $1,886,000 after acquiring an additional 47,466 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. This represents a 5.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FCF shares. Piper Sandler cut their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.30.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock opened at $18.98 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of 12.82 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 0.92. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.96. The stock’s fifty day moving average price is $17.47 and its two-hundred day moving average price is $16.00.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $0.39 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

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.