39,517 Shares in First Commonwealth Financial Co. (NYSE:FCF) Purchased by Royce & Associates LP

Royce & Associates LP purchased a new stake in First Commonwealth Financial Co. (NYSE:FCF - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,517 shares of the bank's stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. 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 valued at $28,000 after purchasing an additional 1,595 shares during the last quarter. CWM LLC boosted its position 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 during the period. Quest Partners LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth about $34,000. Innealta Capital LLC purchased a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at approximately $51,000. Finally, nVerses Capital LLC bought a new position in First Commonwealth Financial in the 3rd quarter worth approximately $72,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Down 0.2 %

Shares of First Commonwealth Financial stock opened at $18.57 on Thursday. The company's 50 day moving average price is $17.24 and its 200-day moving average price is $15.82. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.50. 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 stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.55 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $119.47 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The business's revenue for the quarter was down 1.1% on a year-over-year basis. Equities research 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 declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial's dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCF. Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a "market perform" rating in a report on Thursday, July 25th. Janney Montgomery Scott cut First Commonwealth Financial from a "buy" rating to a "neutral" rating and upped their price target for the company from $16.00 to $19.00 in a research report on Monday, July 29th. StockNews.com lowered shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, October 2nd. Piper Sandler lowered their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.30.

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen bought 2,919 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares of the company's stock, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.97% of the company's stock.

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.