Centiva Capital LP Makes New $518,000 Investment in First Commonwealth Financial Co. (NYSE:FCF)

Centiva Capital LP purchased a new stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,212 shares of the bank's stock, valued at approximately $518,000.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of First Commonwealth Financial by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank's stock valued at $64,876,000 after buying an additional 105,116 shares during the period. Royce & Associates LP bought a new stake in shares of First Commonwealth Financial during the third quarter valued at approximately $678,000. Texas Permanent School Fund Corp raised its stake in shares of First Commonwealth Financial by 53.3% in the second quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank's stock valued at $1,886,000 after purchasing an additional 47,466 shares in the last quarter. Principal Financial Group Inc. boosted its stake in First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank's stock worth $9,243,000 after buying an additional 36,001 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in First Commonwealth Financial in the second quarter valued at about $693,000. 72.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FCF. StockNews.com raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.70.

Insiders Place Their Bets

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the company's stock in a transaction on Monday, September 23rd. The stock was purchased at an average cost of $16.99 per share, with a total value of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company's stock, valued at approximately $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.97% of the company's stock.

First Commonwealth Financial Stock Up 0.1 %

First Commonwealth Financial stock traded up $0.01 during mid-day trading on Friday, reaching $18.64. The company's stock had a trading volume of 300,610 shares, compared to its average volume of 484,983. The business's 50 day simple moving average is $17.73 and its 200 day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.59 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The business's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, research analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.79%. First Commonwealth Financial's dividend payout ratio is 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.