First Commonwealth Financial Co. (NYSE:FCF) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund decreased its holdings in First Commonwealth Financial Co. (NYSE:FCFGet Rating) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,157 shares of the bank’s stock after selling 1,013 shares during the period. Texas Permanent School Fund owned approximately 0.07% of First Commonwealth Financial worth $862,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FCF. BlackRock Inc. grew its stake in shares of First Commonwealth Financial by 1.3% in the 1st quarter. BlackRock Inc. now owns 13,993,881 shares of the bank’s stock valued at $212,147,000 after buying an additional 180,138 shares during the period. State Street Corp grew its stake in shares of First Commonwealth Financial by 12.8% in the 1st quarter. State Street Corp now owns 4,611,897 shares of the bank’s stock valued at $69,916,000 after buying an additional 524,228 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Commonwealth Financial by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,977,742 shares of the bank’s stock valued at $29,983,000 after buying an additional 28,366 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of First Commonwealth Financial by 0.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,374,348 shares of the bank’s stock valued at $20,835,000 after buying an additional 3,561 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of First Commonwealth Financial by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,284,307 shares of the bank’s stock valued at $19,471,000 after buying an additional 6,988 shares during the period. Institutional investors and hedge funds own 69.47% of the company’s stock.

First Commonwealth Financial Stock Performance

NYSE:FCF opened at $14.45 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $1.35 billion, a P/E ratio of 10.70 and a beta of 0.99. The company has a 50 day moving average price of $14.26 and a 200 day moving average price of $14.04. First Commonwealth Financial Co. has a fifty-two week low of $12.76 and a fifty-two week high of $17.63.

First Commonwealth Financial (NYSE:FCFGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). First Commonwealth Financial had a net margin of 31.21% and a return on equity of 12.01%. The business had revenue of $108.27 million during the quarter, compared to analysts’ expectations of $105.48 million. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.42 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 4th were given a $0.12 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.48 annualized dividend and a yield of 3.32%. First Commonwealth Financial’s dividend payout ratio is presently 35.56%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FCF shares. Janney Montgomery Scott started coverage on shares of First Commonwealth Financial in a research note on Thursday, September 29th. They issued a “buy” rating and a $16.00 price target for the company. Piper Sandler lowered their price objective on shares of First Commonwealth Financial to $15.00 in a research report on Wednesday, October 5th. Finally, StockNews.com assumed coverage on shares of First Commonwealth Financial in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, First Commonwealth Financial has a consensus rating of “Moderate Buy” and an average price target of $15.90.

First Commonwealth Financial Company Profile

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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.

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Institutional Ownership by Quarter for First Commonwealth Financial (NYSE:FCF)

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