First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in First Commonwealth Financial Co. (NYSE:FCF) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,163 shares of the bank’s stock after selling 878 shares during the period. Amalgamated Bank’s holdings in First Commonwealth Financial were worth $517,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have recently commented on FCF shares. Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a research report 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. Piper Sandler decreased their price target 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. Keefe, Bruyette & Woods upped their price target on 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. Finally, Royal Bank of Canada upped their price target on 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 issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.30.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the acquisition, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.97% of the stock is currently owned by corporate insiders.

First Commonwealth Financial Stock Performance

NYSE:FCF opened at $18.74 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of 12.66 and a beta of 0.83. The business’s fifty day moving average price is $17.11 and its 200 day moving average price is $15.71. 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 12 month low of $12.41 and a 12 month high of $19.50.

First Commonwealth Financial (NYSE:FCF) last posted 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). The business had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. On average, sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

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.