Inspire Investing LLC Makes New Investment in First Commonwealth Financial Co. (NYSE:FCF)

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Inspire Investing LLC purchased a new position in First Commonwealth Financial Co. (NYSE:FCF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,622 shares of the bank’s stock, valued at approximately $240,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of First Commonwealth Financial by 0.3% during the second quarter. BlackRock Inc. now owns 14,204,360 shares of the bank’s stock worth $199,855,000 after purchasing an additional 49,456 shares in the last quarter. Vanguard Group Inc. grew its position in shares of First Commonwealth Financial by 1.2% during the second quarter. Vanguard Group Inc. now owns 10,687,052 shares of the bank’s stock worth $150,367,000 after purchasing an additional 126,671 shares in the last quarter. State Street Corp grew its position in shares of First Commonwealth Financial by 5.5% during the second quarter. State Street Corp now owns 4,299,936 shares of the bank’s stock worth $60,500,000 after purchasing an additional 225,064 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of First Commonwealth Financial by 5.9% during the second quarter. JPMorgan Chase & Co. now owns 2,320,301 shares of the bank’s stock worth $32,646,000 after purchasing an additional 128,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 8.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,805,920 shares of the bank’s stock worth $25,410,000 after purchasing an additional 134,338 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.

NYSE:FCF opened at $17.55 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.00 and a beta of 1.10. First Commonwealth Financial Co. has a 1 year low of $11.53 and a 1 year high of $17.55. The business has a 50 day simple moving average of $15.88 and a 200-day simple moving average of $14.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.87.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Monday, October 25th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $97.89 million during the quarter, compared to analyst estimates of $94.52 million. First Commonwealth Financial had a return on equity of 11.87% and a net margin of 32.22%. During the same period last year, the company earned $0.24 EPS. As a group, analysts expect that First Commonwealth Financial Co. will post 1.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 5th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, November 4th. First Commonwealth Financial’s payout ratio is 34.07%.

FCF has been the subject of a number of research reports. Royal Bank of Canada raised First Commonwealth Financial from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $16.00 to $19.00 in a research note on Thursday, October 28th. Zacks Investment Research raised First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, January 5th. B. Riley increased their price target on First Commonwealth Financial from $15.00 to $16.00 in a research note on Wednesday. Finally, Boenning Scattergood reissued a “neutral” rating on shares of First Commonwealth Financial in a research note on Thursday, October 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.38.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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