Hoge Financial Services LLC Takes Position in First Commonwealth Financial Co. (NYSE:FCF)

Hoge Financial Services LLC purchased a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,796 shares of the bank’s stock, valued at approximately $246,000.

Other large investors have also modified their holdings of the company. CWM LLC grew its position in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares during the last quarter. Quest Partners LLC bought a new position in First Commonwealth Financial in the 2nd quarter worth approximately $34,000. Innealta Capital LLC acquired a new stake in First Commonwealth Financial in the 2nd quarter valued at approximately $51,000. Entropy Technologies LP bought a new stake in First Commonwealth Financial during the 1st quarter valued at $152,000. Finally, Natixis Advisors LLC acquired a new position in First Commonwealth Financial during the 2nd quarter worth $207,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Up 2.1 %

FCF stock opened at $16.72 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of 10.39 and a beta of 0.83. First Commonwealth Financial Co. has a 12 month low of $11.16 and a 12 month high of $19.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $16.50 and a 200 day simple moving average of $14.49.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.34 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Equities research analysts forecast that First Commonwealth Financial Co. will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.11%. First Commonwealth Financial’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

FCF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Royal Bank of Canada increased their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $16.00 to $19.00 in a report on Monday, July 29th. Finally, Piper Sandler increased their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.50.

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.