First Commonwealth Financial Co. (NYSE:FCF) Shares Acquired by Allegheny Financial Group LTD

Allegheny Financial Group LTD boosted its position in First Commonwealth Financial Co. (NYSE:FCF) by 16.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,410 shares of the bank’s stock after acquiring an additional 7,242 shares during the quarter. Allegheny Financial Group LTD owned 0.05% of First Commonwealth Financial worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of 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 purchasing an additional 1,633 shares in the last quarter. Innealta Capital LLC acquired a new position in First Commonwealth Financial during the second quarter valued at approximately $51,000. Entropy Technologies LP purchased a new stake in First Commonwealth Financial during the first quarter worth approximately $152,000. Natixis Advisors LLC acquired a new stake in shares of First Commonwealth Financial in the second quarter worth $207,000. Finally, EMC Capital Management raised its stake in shares of First Commonwealth Financial by 28.6% in the 1st quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock valued at $220,000 after acquiring an additional 3,523 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FCF. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price objective for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted 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 research report on Thursday, July 25th. Piper Sandler raised their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.50.

First Commonwealth Financial Stock Up 0.4 %

FCF stock opened at $17.22 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $15.96 and a 200-day simple moving average of $14.28. The company has a market capitalization of $1.76 billion, a P/E ratio of 10.70 and a beta of 0.85. First Commonwealth Financial Co. has a twelve month low of $11.16 and a twelve month high of $19.01.

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

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s payout ratio is currently 32.30%.

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.