Charles Schwab Investment Management Inc. Buys 105,116 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Charles Schwab Investment Management Inc. boosted its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,782,837 shares of the bank’s stock after buying an additional 105,116 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in First Commonwealth Financial were worth $64,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FCF. CANADA LIFE ASSURANCE Co grew its holdings in shares of First Commonwealth Financial by 7.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 92,213 shares of the bank’s stock worth $1,281,000 after purchasing an additional 6,145 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in First Commonwealth Financial by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock worth $656,000 after buying an additional 3,676 shares in the last quarter. Boston Partners increased its holdings in First Commonwealth Financial by 67.9% in the 1st quarter. Boston Partners now owns 94,123 shares of the bank’s stock valued at $1,310,000 after buying an additional 38,068 shares during the period. Somerset Trust Co acquired a new position in shares of First Commonwealth Financial in the 2nd quarter valued at $248,000. Finally, CWM LLC boosted its position in shares of First Commonwealth Financial by 451.1% during the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,633 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Down 0.8 %

Shares of FCF opened at $18.98 on Friday. The company has a market capitalization of $1.93 billion, a P/E ratio of 12.82 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 business’s 50 day simple moving average is $17.47 and its 200-day simple moving average is $16.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92.

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

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.74%. First Commonwealth Financial’s payout ratio is 35.14%.

Insider Activity

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

Analyst Upgrades and Downgrades

FCF has been the subject of several recent research reports. Piper Sandler dropped their price target on shares of 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. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.