UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,248 shares of the bank’s stock after selling 27,439 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of First Commonwealth Financial worth $3,091,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FCF. Dimensional Fund Advisors LP raised its stake in shares of First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after purchasing an additional 233,955 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Commonwealth Financial by 2.9% in the 3rd 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 period. American Century Companies Inc. lifted its stake 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 acquiring an additional 384,892 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of First Commonwealth Financial by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock valued at $16,702,000 after acquiring an additional 33,759 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock worth $9,243,000 after acquiring an additional 36,001 shares during the period. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $18.28 on Friday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.35 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day simple moving average is $17.91 and its 200-day simple moving average is $16.38. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. During the same period last year, the company posted $0.39 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler cut their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.70.

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 stock was purchased at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This trade represents a 5.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.97% of the stock is currently owned by corporate 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.