Vanguard Group Inc. Has $196.40 Million Stock Holdings in First Commonwealth Financial Corporation $FCF

Vanguard Group Inc. reduced its position in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,519,236 shares of the bank’s stock after selling 161,785 shares during the period. Vanguard Group Inc. owned about 11.02% of First Commonwealth Financial worth $196,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after buying an additional 2,498 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of First Commonwealth Financial by 58.5% during the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after acquiring an additional 1,950 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of First Commonwealth Financial by 46.9% during the second quarter. BNP Paribas Financial Markets now owns 10,480 shares of the bank’s stock worth $170,000 after purchasing an additional 3,344 shares during the period. Inceptionr LLC bought a new stake in shares of First Commonwealth Financial in the second quarter worth $205,000. Finally, Cerity Partners LLC grew its stake in shares of First Commonwealth Financial by 22.5% in the second quarter. Cerity Partners LLC now owns 12,847 shares of the bank’s stock worth $209,000 after purchasing an additional 2,362 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

Insiders Place Their Bets

In other First Commonwealth Financial news, CFO James R. Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $16.74, for a total transaction of $34,685.28. Following the completion of the transaction, the chief financial officer owned 80,311 shares in the company, valued at approximately $1,344,406.14. The trade was a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jane Grebenc sold 18,598 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $18.85, for a total value of $350,572.30. Following the sale, the executive vice president directly owned 158,975 shares of the company’s stock, valued at $2,996,678.75. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,635 shares of company stock worth $417,719 over the last ninety days. Insiders own 2.17% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $17.52 on Monday. The firm has a market capitalization of $1.82 billion, a P/E ratio of 12.00 and a beta of 0.79. The firm’s 50-day moving average price is $17.74 and its 200-day moving average price is $17.08. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year high of $19.08.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, January 27th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The company had revenue of $137.82 million during the quarter, compared to the consensus estimate of $135.63 million. During the same period last year, the business posted $0.35 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial announced that its board has initiated a stock buyback program on Monday, December 1st that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the bank to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, February 6th. This represents a $0.54 annualized dividend and a yield of 3.1%. First Commonwealth Financial’s dividend payout ratio is presently 36.99%.

Analyst Ratings Changes

A number of equities research analysts have commented on FCF shares. Piper Sandler started coverage on First Commonwealth Financial in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 price target on the stock. Raymond James Financial set a $20.00 target price on First Commonwealth Financial and gave the company an “outperform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.75.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.