Aigen Investment Management LP Sells 1,343 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Aigen Investment Management LP lessened its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,415 shares of the bank’s stock after selling 1,343 shares during the period. Aigen Investment Management LP’s holdings in First Commonwealth Financial were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its position in shares of First Commonwealth Financial by 72.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock valued at $1,294,000 after purchasing an additional 38,990 shares during the period. BNP Paribas Financial Markets grew its stake in First Commonwealth Financial by 137.7% in the 1st quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock valued at $957,000 after buying an additional 39,811 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in First Commonwealth Financial by 53.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 136,563 shares of the bank’s stock valued at $1,886,000 after acquiring an additional 47,466 shares during the period. Hantz Financial Services Inc. bought a new stake in First Commonwealth Financial in the 2nd quarter valued at $693,000. Finally, Algert Global LLC acquired a new stake in shares of First Commonwealth Financial during the second quarter worth $142,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael P. Mccuen bought 2,919 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 approximately $979,014.77. This represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.97% of the stock is currently owned by insiders.

First Commonwealth Financial Stock Up 0.2 %

FCF stock opened at $18.75 on Friday. The firm has a 50-day moving average price of $17.11 and a 200-day moving average price of $15.69. The stock has a market capitalization of $1.92 billion, a P/E ratio of 12.67 and a beta of 0.83. First Commonwealth Financial Co. has a 12 month low of $12.41 and a 12 month high of $19.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data 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). 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 the consensus estimate of $119.47 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FCF shares. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $19.00 in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.