Rockwood Wealth Management LLC Takes Position in First Commonwealth Financial Co. (NYSE:FCF)

Rockwood Wealth Management LLC purchased a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,757 shares of the bank’s stock, valued at approximately $249,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of First Commonwealth Financial by 2.9% in the fourth quarter. Nordea Investment Management AB now owns 213,437 shares of the bank’s stock worth $3,611,000 after purchasing an additional 6,091 shares during the last quarter. Principal Financial Group Inc. grew its stake in First Commonwealth Financial by 7.2% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its position in shares of First Commonwealth Financial by 15.3% during the third quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after acquiring an additional 456,119 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of First Commonwealth Financial during the third quarter valued at approximately $46,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of First Commonwealth Financial by 4.2% in the third quarter. Sanctuary Advisors LLC now owns 15,623 shares of the bank’s stock valued at $268,000 after purchasing an additional 633 shares during the period. 72.58% of the stock is currently owned by institutional investors.

First Commonwealth Financial Price Performance

Shares of FCF stock opened at $16.48 on Friday. The stock’s 50-day moving average is $17.55 and its 200 day moving average is $17.11. First Commonwealth Financial Co. has a 1-year low of $12.41 and a 1-year high of $19.96. 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 company has a market cap of $1.68 billion, a P/E ratio of 11.14 and a beta of 0.88.

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

First Commonwealth Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.15%. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

Several research firms have commented on FCF. Piper Sandler decreased their target price 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. Keefe, Bruyette & Woods lifted their price objective on First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.70.

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.