Longboard Asset Management LP Purchases Shares of 10,347 First Commonwealth Financial Co. (NYSE:FCF)

Longboard Asset Management LP acquired a new position in First Commonwealth Financial Co. (NYSE:FCF) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,347 shares of the bank’s stock, valued at approximately $175,000.

Several other institutional investors have also recently modified their holdings of FCF. Sei Investments Co. raised its stake in shares of First Commonwealth Financial by 12.8% in the second quarter. Sei Investments Co. now owns 21,053 shares of the bank’s stock worth $291,000 after purchasing an additional 2,381 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth about $245,000. AQR Capital Management LLC raised its stake in shares of First Commonwealth Financial by 53.8% in the second quarter. AQR Capital Management LLC now owns 75,340 shares of the bank’s stock worth $1,040,000 after purchasing an additional 26,348 shares during the last quarter. Algert Global LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth about $142,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth about $203,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stephens restated an “overweight” rating and issued a $21.50 price objective on shares of First Commonwealth Financial in a research note on Wednesday, January 29th. Piper Sandler reduced their price target 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. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. DA Davidson reiterated a “buy” rating and set a $21.00 price target on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Finally, StockNews.com cut First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.58.

First Commonwealth Financial Stock Up 3.2 %

Shares of FCF opened at $16.90 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.96. The stock’s 50 day moving average is $17.23 and its two-hundred day moving average is $17.17. The firm has a market cap of $1.72 billion, a P/E ratio of 12.16 and a beta of 0.87.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. Analysts predict that First Commonwealth Financial Co. will post 1.41 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, February 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 37.41%.

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.