Rockwood Wealth Management LLC Purchases Shares of 14,757 First Commonwealth Financial Co. (NYSE:FCF)

Rockwood Wealth Management LLC acquired a new position in shares of First Commonwealth Financial Co. (NYSE:FCF) in the 4th quarter, Holdings Channel reports. The fund acquired 14,757 shares of the bank’s stock, valued at approximately $249,000.

A number of other large investors have also recently made changes to their positions in FCF. Franklin Resources Inc. raised its position in First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after buying an additional 456,119 shares during the last quarter. Barclays PLC raised its holdings in shares of First Commonwealth Financial by 121.8% during the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock valued at $64,876,000 after purchasing an additional 105,116 shares during the period. Jane Street Group LLC boosted its holdings in First Commonwealth Financial by 39.5% in the third quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock valued at $2,583,000 after purchasing an additional 42,632 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in First Commonwealth Financial during the 3rd quarter worth about $678,000. 72.58% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.48 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $17.55 and its two-hundred day moving average is $17.11. The firm has a market capitalization of $1.68 billion, a P/E ratio of 11.14 and a beta of 0.88. 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 announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts anticipate that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

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

Analyst Ratings Changes

FCF has been the topic of a number of recent research reports. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 1st. Piper Sandler lowered their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.70.

First Commonwealth Financial 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.