Assenagon Asset Management S.A. Sells 31,533 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Assenagon Asset Management S.A. lowered its position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 31.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,184 shares of the bank's stock after selling 31,533 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of First Commonwealth Financial worth $1,137,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC increased its stake in First Commonwealth Financial by 4.2% in the third quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank's stock valued at $268,000 after acquiring an additional 633 shares during the period. Natixis Advisors LLC grew its stake in shares of First Commonwealth Financial by 5.9% in the 3rd quarter. Natixis Advisors LLC now owns 15,882 shares of the bank's stock valued at $272,000 after purchasing an additional 883 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Commonwealth Financial by 6.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,383 shares of the bank's stock worth $332,000 after buying an additional 1,112 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of First Commonwealth Financial by 2,572.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank's stock worth $28,000 after buying an additional 1,595 shares during the period. Finally, CWM LLC boosted its stake in First Commonwealth Financial by 92.0% in the 3rd quarter. CWM LLC now owns 3,830 shares of the bank's stock valued at $66,000 after buying an additional 1,835 shares in the last quarter. Institutional investors own 72.58% of the company's stock.

First Commonwealth Financial Price Performance

NYSE FCF traded up $0.04 on Friday, hitting $16.48. 387,917 shares of the company were exchanged, compared to its average volume of 557,612. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.96. The firm has a 50 day moving average of $17.55 and a two-hundred day moving average of $17.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.68 billion, a P/E ratio of 11.14 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million for 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 for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, equities analysts predict that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.15%. First Commonwealth Financial's dividend payout ratio (DPR) is currently 35.14%.

Analyst Ratings Changes

FCF has been the subject of several recent analyst reports. StockNews.com upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 1st. Piper Sandler cut their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.70.

About First Commonwealth Financial

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.