Hantz Financial Services Inc. Raises Stock Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Hantz Financial Services Inc. raised its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 37.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,003 shares of the bank’s stock after purchasing an additional 18,799 shares during the quarter. Hantz Financial Services Inc.’s holdings in First Commonwealth Financial were worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in First Commonwealth Financial by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock valued at $656,000 after purchasing an additional 3,676 shares during the last quarter. Boston Partners grew its stake in First Commonwealth Financial by 67.9% during the 1st quarter. Boston Partners now owns 94,123 shares of the bank’s stock valued at $1,310,000 after acquiring an additional 38,068 shares in the last quarter. Somerset Trust Co acquired a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $248,000. CWM LLC grew its holdings in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after buying an additional 1,633 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its position in First Commonwealth Financial by 54.9% during the second quarter. Buckingham Capital Management Inc. now owns 45,355 shares of the bank’s stock worth $626,000 after purchasing an additional 16,082 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $16.99 per share, with a total value of $49,593.81. Following the purchase, the executive vice president now owns 57,623 shares of the company’s stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.97% of the company’s stock.

Analyst Upgrades and Downgrades

FCF has been the subject of a number of recent analyst reports. 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. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.30.

First Commonwealth Financial Price Performance

FCF stock opened at $18.83 on Monday. The business has a 50 day moving average price of $17.53 and a 200 day moving average price of $16.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 12.72 and a beta of 0.83. First Commonwealth Financial Co. has a fifty-two week low of $12.41 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $121.21 million during the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities research analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, November 8th. First Commonwealth Financial’s payout ratio is currently 35.14%.

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.