EMC Capital Management Has $49,000 Holdings in First Commonwealth Financial Co. (NYSE:FCF)

EMC Capital Management lessened its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 81.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,873 shares of the bank’s stock after selling 12,950 shares during the quarter. EMC Capital Management’s holdings in First Commonwealth Financial were worth $49,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CWM LLC grew its position in First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at $34,000. Innealta Capital LLC purchased a new position in shares of First Commonwealth Financial during the 2nd quarter valued at $51,000. nVerses Capital LLC acquired a new position in shares of First Commonwealth Financial in the third quarter worth $72,000. Finally, Algert Global LLC purchased 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.

First Commonwealth Financial Stock Up 0.2 %

Shares of First Commonwealth Financial stock opened at $16.47 on Friday. First Commonwealth Financial Co. has a 12-month low of $12.24 and a 12-month high of $19.01. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $16.84 and a two-hundred day moving average price of $15.34. The stock has a market capitalization of $1.69 billion, a P/E ratio of 11.13 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last posted 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 firm had revenue of $121.21 million for the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. First Commonwealth Financial’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Equities analysts expect that First Commonwealth Financial Co. will post 1.44 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

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 given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is currently 35.14%.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on FCF shares. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $19.00 in a research note on Monday, July 29th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Piper Sandler cut their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.30.

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.