Renaissance Technologies LLC Increases Holdings in First Commonwealth Financial Corporation $FCF

Renaissance Technologies LLC boosted its position in First Commonwealth Financial Corporation (NYSE:FCF) by 453.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,591 shares of the bank’s stock after buying an additional 176,626 shares during the quarter. Renaissance Technologies LLC’s holdings in First Commonwealth Financial were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in shares of First Commonwealth Financial by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock worth $341,000 after acquiring an additional 585 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after purchasing an additional 621 shares during the last quarter. Rafferty Asset Management LLC raised its position in First Commonwealth Financial by 0.9% in the 4th quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank’s stock worth $1,585,000 after purchasing an additional 875 shares during the period. The Manufacturers Life Insurance Company lifted its stake in First Commonwealth Financial by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank’s stock worth $4,880,000 after purchasing an additional 1,068 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in First Commonwealth Financial by 4.0% during the fourth quarter. Inspire Investing LLC now owns 27,714 shares of the bank’s stock valued at $467,000 after buying an additional 1,077 shares during the period. 72.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Royal Bank Of Canada boosted their price objective on First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 target price on shares of First Commonwealth Financial in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.25.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the transaction, the executive vice president owned 56,861 shares of the company’s stock, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total transaction of $45,273.20. Following the transaction, the chief financial officer directly owned 75,132 shares of the company’s stock, valued at $1,641,634.20. This represents a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,466 shares of company stock worth $224,517. Corporate insiders own 1.90% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of FCF stock opened at $21.51 on Friday. The business’s fifty day moving average is $20.35 and its 200 day moving average is $18.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 13.20 and a beta of 0.75. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $22.34.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, July 28th. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $139.42 million for the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. Research analysts expect that First Commonwealth Financial Corporation will post 1.73 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.56 annualized dividend and a yield of 2.6%. First Commonwealth Financial’s payout ratio is presently 34.36%.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.