Swiss National Bank Has $3.15 Million Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Posted by Defense World Staff on May 23rd, 2023

Swiss National Bank lifted its stake in First Commonwealth Financial Co. (NYSE:FCF – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,500 shares of the bank’s stock after acquiring an additional 1,800 shares during the period. Swiss National Bank owned approximately 0.24% of First Commonwealth Financial worth $3,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FCF. Thrivent Financial for Lutherans boosted its stake in First Commonwealth Financial by 994.9% during the second quarter. Thrivent Financial for Lutherans now owns 839,914 shares of the bank’s stock worth $11,272,000 after buying an additional 763,201 shares in the last quarter. Invesco Ltd. boosted its stake in shares of First Commonwealth Financial by 107.1% in the 1st quarter. Invesco Ltd. now owns 1,100,043 shares of the bank’s stock valued at $16,677,000 after purchasing an additional 568,755 shares in the last quarter. State Street Corp boosted 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 purchasing an additional 524,228 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of First Commonwealth Financial by 575.4% in the 2nd quarter. Renaissance Technologies LLC now owns 235,700 shares of the bank’s stock valued at $3,163,000 after purchasing an additional 200,800 shares in the last quarter. Finally, BlackRock Inc. boosted 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 purchasing an additional 180,138 shares in the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of NYSE:FCF opened at $13.05 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.34 billion, a P/E ratio of 9.53 and a beta of 0.95. The business has a 50-day moving average price of $12.23 and a two-hundred day moving average price of $13.79. First Commonwealth Financial Co. has a 1-year low of $11.32 and a 1-year high of $16.53.

First Commonwealth Financial (NYSE:FCF – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. First Commonwealth Financial had a return on equity of 13.53% and a net margin of 27.75%. The business had revenue of $117.60 million during the quarter, compared to analyst estimates of $123.86 million. During the same period in the previous year, the firm earned $0.29 EPS. First Commonwealth Financial’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities analysts predict that First Commonwealth Financial Co. will post 1.69 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 5th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, May 4th. This represents a $0.50 dividend on an annualized basis and a yield of 3.83%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.12. First Commonwealth Financial’s dividend payout ratio is 36.50%.

Analyst Ratings Changes

A number of research analysts recently issued reports on FCF shares. Stephens raised First Commonwealth Financial from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Friday. StockNews.com started coverage on First Commonwealth Financial in a report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Raymond James cut First Commonwealth Financial from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, First Commonwealth Financial presently has a consensus rating of “Hold” and an average price target of $15.60.

Insiders Place Their Bets

In other news, Director Ray T. Charley purchased 3,900 shares of First Commonwealth Financial stock in a transaction on Friday, March 17th. The stock was purchased at an average price of $12.85 per share, with a total value of $50,115.00. Following the transaction, the director now directly owns 325,074 shares in the company, valued at approximately $4,177,200.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other First Commonwealth Financial news, Director Ray T. Charley purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $13.26 per share, for a total transaction of $53,040.00. Following the purchase, the director now owns 313,174 shares in the company, valued at $4,152,687.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray T. Charley purchased 3,900 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was acquired at an average price of $12.85 per share, for a total transaction of $50,115.00. Following the purchase, the director now owns 325,074 shares in the company, valued at approximately $4,177,200.90. The disclosure for this purchase can be found here. Insiders own 1.85% of the company’s stock.

About First Commonwealth Financial

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First Commonwealth Financial Corp. is a holding company, which engages in the provision of consumer and commercial banking services. The firm is also involved in providing trust and wealth management services and offers insurance products. The company was founded on November 15, 1982 and is headquartered in Indiana, PA.