Cwm LLC raised its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 451.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,995 shares of the bank’s stock after buying an additional 1,633 shares during the period. Cwm LLC’s holdings in First Commonwealth Financial were worth $28,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in FCF. Dimensional Fund Advisors LP boosted its holdings in shares of First Commonwealth Financial by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,569,502 shares of the bank’s stock valued at $101,435,000 after buying an additional 28,553 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Commonwealth Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,856 shares of the bank’s stock valued at $43,214,000 after purchasing an additional 23,924 shares during the last quarter. Franklin Resources Inc. boosted its position in First Commonwealth Financial by 155.0% during the fourth quarter. Franklin Resources Inc. now owns 2,697,502 shares of the bank’s stock worth $41,649,000 after purchasing an additional 1,639,667 shares during the period. First Commonwealth Financial Corp PA boosted its position in First Commonwealth Financial by 6.9% during the first quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock worth $13,373,000 after purchasing an additional 61,823 shares during the period. Finally, Norges Bank bought a new position in First Commonwealth Financial during the fourth quarter worth $10,803,000. 72.58% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Royal Bank of Canada lifted their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Janney Montgomery Scott cut shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. Finally, Piper Sandler boosted their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.50.
View Our Latest Stock Report on FCF
First Commonwealth Financial Trading Down 0.2 %
Shares of First Commonwealth Financial stock opened at $16.33 on Friday. The firm has a 50-day moving average of $15.34 and a 200-day moving average of $14.07. The stock has a market cap of $1.67 billion, a PE ratio of 10.14 and a beta of 0.85. First Commonwealth Financial Co. has a 52-week low of $11.16 and a 52-week high of $19.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.34 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. First Commonwealth Financial’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. As a group, sell-side analysts forecast that First Commonwealth Financial Co. will post 1.41 EPS for the current year.
First Commonwealth Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 32.30%.
First Commonwealth Financial Company Profile
(Free Report)
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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