Renaissance Technologies LLC Has $3.79 Million Holdings in First Commonwealth Financial Corporation $FCF

Renaissance Technologies LLC raised its stake in shares of First Commonwealth Financial Corporation (NYSE:FCF) by 453.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 215,591 shares of the bank’s stock after purchasing an additional 176,626 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of First Commonwealth Financial worth $3,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in shares of First Commonwealth Financial by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock valued at $341,000 after buying an additional 585 shares in the last quarter. TD Private Client Wealth LLC grew its stake in First Commonwealth Financial by 20.7% in the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after buying an additional 621 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in First Commonwealth Financial by 0.9% during the 4th quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank’s stock valued at $1,585,000 after acquiring an additional 875 shares during the period. The Manufacturers Life Insurance Company raised its holdings in First Commonwealth Financial by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank’s stock valued at $4,880,000 after acquiring an additional 1,068 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of First Commonwealth Financial by 4.0% during the fourth quarter. Inspire Investing LLC now owns 27,714 shares of the bank’s stock worth $467,000 after acquiring an additional 1,077 shares in the last quarter. 72.58% of the stock is owned by institutional investors.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $21.51 on Friday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.20 and a beta of 0.75. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $22.34. The stock has a fifty day moving average of $20.35 and a 200 day moving average of $18.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The business had revenue of $139.42 million for the quarter, compared to analyst estimates of $137.48 million. On average, research analysts expect that First Commonwealth Financial Corporation will post 1.73 EPS for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 7th. First Commonwealth Financial’s dividend payout ratio is 34.36%.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Michael P. Mccuen sold 5,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the completion of the transaction, the executive vice president owned 56,861 shares of the company’s stock, valued at $1,056,477.38. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total transaction of $45,273.20. Following the sale, the chief financial officer owned 75,132 shares in the company, valued at approximately $1,641,634.20. This trade represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,466 shares of company stock worth $224,517 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FCF shares. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $24.00 price objective on shares of First Commonwealth Financial in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Royal Bank Of Canada lifted their target price on First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Moderate Buy” and an average target price of $24.25.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.