Public Sector Pension Investment Board Sells 7,900 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Public Sector Pension Investment Board trimmed its position in First Commonwealth Financial Co. (NYSE:FCF) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,518 shares of the bank’s stock after selling 7,900 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of First Commonwealth Financial worth $3,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of First Commonwealth Financial by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock worth $23,107,000 after purchasing an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after acquiring an additional 233,955 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after acquiring an additional 105,116 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of First Commonwealth Financial during the second quarter valued at about $834,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of First Commonwealth Financial in the 2nd quarter valued at approximately $693,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Commonwealth Financial

In related news, EVP Michael P. Mccuen purchased 2,919 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares of the company’s stock, valued at $979,014.77. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.97% of the stock is owned by company insiders.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $18.83 on Tuesday. The firm’s fifty day moving average is $17.53 and its two-hundred day moving average is $16.09. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 12.72 and a beta of 0.83. First Commonwealth Financial Co. has a one year low of $12.41 and a one year high of $19.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Research analysts expect that First Commonwealth Financial Co. will post 1.4 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.76%. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Analysts Set New Price Targets

FCF has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.30.

About First Commonwealth Financial

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.