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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank's stock worth $28,000 after acquiring an additional 1,595 shares during the period. Quest Partners LLC purchased a new stake in shares of First Commonwealth Financial in the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB bought a new position in shares of First Commonwealth Financial during the third quarter valued at approximately $46,000. CWM LLC increased its holdings in First Commonwealth Financial by 92.0% during the third quarter. CWM LLC now owns 3,830 shares of the bank's stock valued at $66,000 after buying an additional 1,835 shares during the period. Finally, nVerses Capital LLC bought a new position in First Commonwealth Financial in the third quarter worth approximately $72,000. Institutional investors own 72.58% of the company's stock.

First Commonwealth Financial Stock Up 0.1 %

NYSE:FCF traded up $0.02 during mid-day trading on Tuesday, hitting $16.92. 375,044 shares of the company's stock traded hands, compared to its average volume of 516,575. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.72 billion, a P/E ratio of 11.43 and a beta of 0.86. The company has a fifty day moving average of $17.98 and a 200 day moving average of $16.74. First Commonwealth Financial Co. has a twelve month low of $12.41 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced 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). The company had revenue of $121.21 million during the quarter, compared to analysts' expectations of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. On average, analysts forecast that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial's dividend payout ratio (DPR) is presently 35.14%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FCF shares. Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $18.00 to $20.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, December 24th. Finally, Piper Sandler decreased 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, First Commonwealth Financial 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.