First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,300 shares of the bank’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in First Commonwealth Financial were worth $845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its position in 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 buying an additional 1,633 shares during the last quarter. Quest Partners LLC acquired a new stake in First Commonwealth Financial during the 2nd quarter valued at approximately $34,000. Innealta Capital LLC purchased a new stake in First Commonwealth Financial during the 2nd quarter worth approximately $51,000. nVerses Capital LLC purchased a new stake in First Commonwealth Financial during the 3rd quarter worth approximately $72,000. Finally, Algert Global LLC purchased a new position in shares of First Commonwealth Financial during the 2nd quarter valued at approximately $142,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their price objective for the company from $16.00 to $19.00 in a research note on Monday, July 29th. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods increased 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. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Hold” and a consensus target price of $17.30.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $16.27 on Tuesday. The stock’s 50 day moving average price is $16.84 and its 200 day moving average price is $15.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 10.99 and a beta of 0.83. First Commonwealth Financial Co. has a 12 month low of $12.30 and a 12 month high of $19.01.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 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 during the quarter, compared to analyst estimates of $119.47 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that First Commonwealth Financial Co. will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 3.20%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

Insider Activity

In other news, EVP Michael P. Mccuen bought 2,919 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.