IndexIQ Advisors LLC raised its stake in First Commonwealth Financial Corporation (NYSE:FCF) by 83.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,365 shares of the bank’s stock after purchasing an additional 29,653 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.07% of First Commonwealth Financial Corporation worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. American Century Companies Inc. grew its stake in First Commonwealth Financial Corporation by 2.5% in the third quarter. American Century Companies Inc. now owns 537,145 shares of the bank’s stock valued at $7,590,000 after purchasing an additional 12,961 shares in the last quarter. Victory Capital Management Inc. grew its stake in First Commonwealth Financial Corporation by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,582,605 shares of the bank’s stock valued at $22,362,000 after purchasing an additional 104,299 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in First Commonwealth Financial Corporation in the third quarter valued at approximately $249,000. Dynamic Technology Lab Private Ltd grew its stake in First Commonwealth Financial Corporation by 62.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 42,848 shares of the bank’s stock valued at $544,000 after purchasing an additional 16,439 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in First Commonwealth Financial Corporation in the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 63.14% of the company’s stock.

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First Commonwealth Financial Corporation (FCF) opened at $13.78 on Friday. The firm has a market capitalization of $1,342.99, a price-to-earnings ratio of 16.60 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. First Commonwealth Financial Corporation has a fifty-two week low of $10.81 and a fifty-two week high of $14.76.

First Commonwealth Financial Corporation (NYSE:FCF) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $80.46 million during the quarter, compared to analysts’ expectations of $79.29 million. First Commonwealth Financial Corporation had a return on equity of 9.53% and a net margin of 21.96%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. equities research analysts anticipate that First Commonwealth Financial Corporation will post 0.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.32 annualized dividend and a yield of 2.32%. First Commonwealth Financial Corporation’s dividend payout ratio is presently 43.24%.

A number of analysts have recently issued reports on FCF shares. Royal Bank Of Canada started coverage on First Commonwealth Financial Corporation in a research report on Monday, July 17th. They issued an “outperform” rating and a $14.00 price objective for the company. BidaskClub cut First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price objective on shares of First Commonwealth Financial Corporation in a research report on Thursday, August 10th. Finally, Canaccord Genuity cut their price objective on First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating for the company in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.96.

First Commonwealth Financial Corporation Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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Institutional Ownership by Quarter for First Commonwealth Financial Corporation (NYSE:FCF)

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