nVerses Capital LLC Makes New $72,000 Investment in First Commonwealth Financial Co. (NYSE:FCF)

nVerses Capital LLC acquired a new stake in First Commonwealth Financial Co. (NYSE:FCF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,200 shares of the bank’s stock, valued at approximately $72,000.

Other large investors also recently modified their holdings of the company. Texas Permanent School Fund Corp increased its holdings in First Commonwealth Financial by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock worth $1,240,000 after purchasing an additional 887 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of First Commonwealth Financial by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after acquiring an additional 900 shares during the period. Inspire Investing LLC boosted its stake in First Commonwealth Financial by 4.0% during the first quarter. Inspire Investing LLC now owns 25,775 shares of the bank’s stock worth $359,000 after acquiring an additional 995 shares in the last quarter. ProShare Advisors LLC grew its holdings in First Commonwealth Financial by 6.3% in the first quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock worth $284,000 after purchasing an additional 1,217 shares during the period. Finally, CWM LLC increased its stake in First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.74 on Tuesday. The company has a fifty day moving average price of $16.72 and a 200-day moving average price of $15.10. The firm has a market cap of $1.71 billion, a price-to-earnings 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.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler boosted their price objective on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Insider Activity

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.97% of the stock is currently owned by corporate insiders.

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.