UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 27,439 Shares of First Commonwealth Financial Co. (NYSE:FCF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,248 shares of the bank's stock after selling 27,439 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of First Commonwealth Financial worth $3,091,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FCF. Farther Finance Advisors LLC raised its holdings 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 purchasing an additional 1,595 shares during the period. CWM LLC raised its stake in First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank's stock worth $28,000 after buying an additional 1,633 shares during the period. Quest Partners LLC bought a new position in First Commonwealth Financial in the second quarter worth approximately $34,000. Innealta Capital LLC acquired a new stake in First Commonwealth Financial in the second quarter valued at approximately $51,000. Finally, nVerses Capital LLC acquired a new stake in First Commonwealth Financial in the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 72.58% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler reduced 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, First Commonwealth Financial currently has a consensus rating of "Hold" and a consensus target price of $17.70.

First Commonwealth Financial Stock Up 0.2 %

NYSE FCF traded up $0.03 on Friday, reaching $18.28. The company had a trading volume of 305,491 shares, compared to its average volume of 512,828. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The company's fifty day moving average is $17.91 and its 200 day moving average is $16.40. First Commonwealth Financial Co. has a 52-week low of $12.41 and a 52-week high of $19.96. The stock has a market capitalization of $1.86 billion, a P/E ratio of 12.35 and a beta of 0.86.

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

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.84%. 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.