Janney Montgomery Scott LLC Sells 1,230 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Janney Montgomery Scott LLC reduced its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,778 shares of the bank’s stock after selling 1,230 shares during the quarter. Janney Montgomery Scott LLC owned about 0.13% of First Commonwealth Financial worth $2,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after buying an additional 233,955 shares during the period. American Century Companies Inc. increased its position in First Commonwealth Financial by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after purchasing an additional 384,892 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after purchasing an additional 33,759 shares in the last quarter. First Commonwealth Financial Corp PA lifted its position in shares of First Commonwealth Financial by 6.9% in the 1st quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock worth $13,373,000 after purchasing an additional 61,823 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of First Commonwealth Financial by 4.3% in the 1st quarter. Russell Investments Group Ltd. now owns 296,524 shares of the bank’s stock worth $4,128,000 after purchasing an additional 12,313 shares during the period. 72.58% of the stock is owned by institutional investors.

First Commonwealth Financial Stock Down 1.2 %

First Commonwealth Financial stock opened at $19.00 on Wednesday. First Commonwealth Financial Co. has a 1-year low of $12.30 and a 1-year high of $19.50. The business has a fifty day moving average price of $16.99 and a 200-day moving average price of $15.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 12.84 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. First Commonwealth Financial’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.4 EPS 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 $0.13 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.74%. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented 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 stock a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler reduced their price target on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Janney Montgomery Scott lowered First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased 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 report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.30.

Insider Transactions at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 2,919 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased 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 directly owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.97% of the company’s stock.

First Commonwealth Financial Company 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.