First Commonwealth Financial Co. (NYSE:FCF) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 538,964 shares of the bank's stock after purchasing an additional 36,001 shares during the period. Principal Financial Group Inc. owned 0.53% of First Commonwealth Financial worth $9,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCF. Farther Finance Advisors LLC boosted its position in shares of First Commonwealth Financial by 2,572.6% during the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank's stock valued at $28,000 after buying an additional 1,595 shares during the last quarter. CWM LLC lifted its holdings in First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank's stock valued at $28,000 after acquiring an additional 1,633 shares during the period. Quest Partners LLC bought a new position in First Commonwealth Financial in the second quarter valued at about $34,000. Innealta Capital LLC bought a new position in shares of First Commonwealth Financial in the second quarter worth about $51,000. Finally, nVerses Capital LLC bought a new position in shares of First Commonwealth Financial in the third quarter worth about $72,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCF shares. Keefe, Bruyette & Woods increased their target price on 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. Janney Montgomery Scott lowered First Commonwealth Financial from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. Piper Sandler reduced their price target on 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. StockNews.com lowered First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price target on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.30.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Michael P. Mccuen acquired 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares of the company's stock, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.97% of the stock is currently owned by company insiders.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded down $0.15 during trading hours on Tuesday, hitting $18.47. 127,441 shares of the stock traded hands, compared to its average volume of 516,701. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The firm's 50 day moving average price is $17.15 and its 200-day moving average price is $15.76. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 12.58 and a beta of 0.83. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.50.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). The company had revenue of $121.21 million during the quarter, compared to analysts' expectations of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, equities analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.82%. First Commonwealth Financial's dividend payout ratio (DPR) is presently 35.14%.

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.