10,857 Shares in First Commonwealth Financial Co. (NYSE:FCF) Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,857 shares of the bank’s stock, valued at approximately $184,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its position in First Commonwealth Financial by 5.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank’s stock valued at $227,000 after acquiring an additional 705 shares in the last quarter. Sei Investments Co. grew its position in First Commonwealth Financial by 3.9% in the fourth quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock valued at $404,000 after acquiring an additional 895 shares in the last quarter. Aigen Investment Management LP grew its position in First Commonwealth Financial by 6.0% in the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock valued at $294,000 after acquiring an additional 983 shares in the last quarter. Bank of Montreal Can grew its position in First Commonwealth Financial by 6.2% in the fourth quarter. Bank of Montreal Can now owns 17,932 shares of the bank’s stock valued at $303,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of First Commonwealth Financial by 8.0% during the 4th quarter. Cetera Investment Advisers now owns 14,154 shares of the bank’s stock valued at $239,000 after buying an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Performance

Shares of FCF opened at $15.79 on Monday. The business’s fifty day moving average price is $15.25 and its 200 day moving average price is $16.26. First Commonwealth Financial Co. has a 12-month low of $12.71 and a 12-month high of $19.96. The stock has a market capitalization of $1.66 billion, a PE ratio of 11.36 and a beta of 0.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. First Commonwealth Financial had a return on equity of 10.36% and a net margin of 20.38%. The firm had revenue of $118.51 million for the quarter, compared to analysts’ expectations of $117.70 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.42%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 9th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 40.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FCF shares. Keefe, Bruyette & Woods reduced their target price on First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada reduced their target price on First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.92.

Insider Buying and Selling at First Commonwealth Financial

In related news, Director Todd D. Brice bought 7,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were bought at an average cost of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the purchase, the director now owns 10,500 shares of the company’s stock, valued at $168,945. This represents a 200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.17% of the stock is currently owned by company insiders.

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.