Meeder Advisory Services Inc. Has $197,000 Stake in First Commonwealth Financial Corporation (NYSE:FCF)

Meeder Advisory Services Inc. lowered its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 43.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,688 shares of the bank’s stock after selling 9,825 shares during the period. Meeder Advisory Services Inc.’s holdings in First Commonwealth Financial were worth $197,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Royce & Associates LP raised its stake in shares of First Commonwealth Financial by 45.9% in the first quarter. Royce & Associates LP now owns 96,111 shares of the bank’s stock valued at $1,494,000 after purchasing an additional 30,249 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in First Commonwealth Financial in the 1st quarter valued at $627,000. Choreo LLC bought a new stake in First Commonwealth Financial in the 1st quarter valued at $156,000. MQS Management LLC acquired a new position in shares of First Commonwealth Financial in the 1st quarter valued at $292,000. Finally, CWM LLC lifted its holdings in shares of First Commonwealth Financial by 73.6% during the 1st quarter. CWM LLC now owns 7,932 shares of the bank’s stock worth $123,000 after acquiring an additional 3,362 shares during the period. Institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 1.1%

FCF opened at $16.33 on Friday. The firm’s 50-day simple moving average is $16.22 and its 200-day simple moving average is $15.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.96. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 12.56 and a beta of 0.84.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same period in the previous year, the business earned $0.37 earnings per share. Equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a yield of 3.3%. First Commonwealth Financial’s dividend payout ratio is 40.30%.

Analysts Set New Price Targets

FCF has been the topic of several recent research reports. Royal Bank Of Canada decreased their target price on shares of First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price objective on First Commonwealth Financial from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial presently has an average rating of “Moderate Buy” and a consensus price target of $18.90.

Insider Buying and Selling

In other First Commonwealth Financial news, Director Todd D. Brice purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average cost of $16.09 per share, with a total value of $112,630.00. Following the acquisition, the director directly owned 10,500 shares of the company’s stock, valued at approximately $168,945. This trade represents a 200.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 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.