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

Aigen Investment Management LP cut its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of First Commonwealth Financial by 2,572.6% in the third quarter. Farther Finance Advisors LLC now owns 1,657 shares of the bank’s stock valued at $28,000 after buying an additional 1,595 shares during the period. CWM LLC increased its stake in shares of First Commonwealth Financial by 451.1% in the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after purchasing an additional 1,633 shares in the last quarter. Quest Partners LLC bought a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $34,000. Innealta Capital LLC purchased a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at approximately $51,000. Finally, nVerses Capital LLC purchased a new stake in shares of First Commonwealth Financial during the 3rd quarter valued at approximately $72,000. Institutional investors own 72.58% of the company’s stock.

Insider Transactions at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen purchased 2,919 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought 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 $979,014.77. The trade was a 5.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.97% of the stock is currently owned by company insiders.

First Commonwealth Financial Price Performance

Shares of NYSE FCF opened at $18.75 on Friday. The stock’s 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $15.69. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm 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 twelve month low of $12.41 and a twelve month high of $19.50.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, October 29th. The bank reported $0.31 EPS 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 revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities analysts anticipate that First Commonwealth Financial Co. will post 1.4 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their target price on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $16.00 to $19.00 in a report on Monday, July 29th. Finally, StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note 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. Based on data from MarketBeat.com, First Commonwealth Financial presently has a consensus rating of “Hold” and an average price target 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.