Alpha DNA Investment Management LLC Acquires Shares of 23,853 First Commonwealth Financial Co. (NYSE:FCF)

Alpha DNA Investment Management LLC acquired a new stake in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,853 shares of the bank’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new stake in First Commonwealth Financial during the 3rd quarter valued at approximately $678,000. Texas Permanent School Fund Corp boosted its stake in shares of First Commonwealth Financial by 53.3% in the second quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock valued at $1,886,000 after buying an additional 47,466 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in First Commonwealth Financial during the second quarter worth $693,000. Principal Financial Group Inc. lifted its holdings in First Commonwealth Financial by 7.2% in the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after acquiring an additional 36,001 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of First Commonwealth Financial during the 2nd quarter worth $142,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCF. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $19.00 in a report on Monday, July 29th. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler dropped their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.30.

First Commonwealth Financial Stock Up 2.5 %

Shares of NYSE FCF opened at $19.21 on Monday. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.50. The firm’s 50 day moving average price is $17.34 and its 200 day moving average price is $15.90. The firm has a market cap of $1.96 billion, a P/E ratio of 12.98 and a beta of 0.83. 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 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 return on equity of 11.19% and a net margin of 21.87%. The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

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.