JPMorgan Chase & Co. Sells 214,927 Shares of First Commonwealth Financial Co. (NYSE:FCF)

JPMorgan Chase & Co. reduced its position in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 25.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632,442 shares of the bank's stock after selling 214,927 shares during the period. JPMorgan Chase & Co. owned approximately 0.62% of First Commonwealth Financial worth $10,846,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank's stock valued at $96,503,000 after purchasing an additional 233,955 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Commonwealth Financial by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank's stock worth $64,876,000 after acquiring an additional 105,116 shares during the last quarter. Franklin Resources Inc. increased its stake in First Commonwealth Financial by 15.3% in the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank's stock valued at $58,601,000 after acquiring an additional 456,119 shares during the last quarter. American Century Companies Inc. raised its position in First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank's stock valued at $23,107,000 after purchasing an additional 384,892 shares in the last quarter. Finally, Principal Financial Group Inc. lifted 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 purchasing an additional 36,001 shares during the last quarter. Institutional investors own 72.58% of the company's stock.

Analyst Ratings Changes

FCF has been the topic of a number of research reports. StockNews.com raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 1st. Keefe, Bruyette & Woods lifted their price target 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. Finally, 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 research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.70.

First Commonwealth Financial Stock Up 0.4 %

Shares of NYSE FCF opened at $15.96 on Monday. The firm has a fifty day simple moving average of $17.93 and a two-hundred day simple moving average of $16.95. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. 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 firm has a market capitalization of $1.62 billion, a PE ratio of 10.78 and a beta of 0.88.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $121.21 million during the quarter, compared to analysts' expectations of $119.47 million. During the same quarter last year, the business earned $0.39 earnings per share. The business's quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts expect that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.26%. First Commonwealth Financial's 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.