Charles Schwab Investment Management Inc. Grows Position in First Commonwealth Financial Co. (NYSE:FCF)

Charles Schwab Investment Management Inc. boosted its stake in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,782,837 shares of the bank's stock after buying an additional 105,116 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.70% of First Commonwealth Financial worth $64,876,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted 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 purchasing an additional 1,595 shares during the period. CWM LLC lifted its stake in First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank's stock worth $28,000 after purchasing an additional 1,633 shares in the last quarter. Quest Partners LLC purchased a new position in shares of First Commonwealth Financial during the second quarter worth $34,000. Innealta Capital LLC acquired a new stake in shares of First Commonwealth Financial in the second quarter valued at $51,000. Finally, nVerses Capital LLC purchased a new stake in shares of First Commonwealth Financial in the 3rd quarter valued at $72,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCF has been the subject of several research reports. StockNews.com raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Wednesday. Piper Sandler dropped their price objective 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $17.30.

Insiders Place Their Bets

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares of the company's stock, valued at $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.97% of the stock is owned by company insiders.

First Commonwealth Financial Stock Down 0.6 %

Shares of FCF traded down $0.12 during midday trading on Friday, hitting $18.86. The company had a trading volume of 388,874 shares, compared to its average volume of 516,488. The company's 50-day simple moving average is $17.50 and its 200-day simple moving average is $16.02. 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 1 year low of $12.41 and a 1 year high of $19.96. The firm has a market capitalization of $1.92 billion, a P/E ratio of 12.72 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly 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). First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same quarter last year, the firm earned $0.39 EPS. The company's revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial's dividend payout ratio 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.