Nordea Investment Management AB Has $3.40 Million Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Posted by Defense World Staff on Sep 22nd, 2023

Nordea Investment Management AB decreased its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,880 shares of the bank’s stock after selling 29,918 shares during the quarter. Nordea Investment Management AB owned approximately 0.26% of First Commonwealth Financial worth $3,404,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in First Commonwealth Financial by 173.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the bank’s stock valued at $51,000 after purchasing an additional 2,594 shares during the period. Metropolitan Life Insurance Co NY grew its position in shares of First Commonwealth Financial by 14.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank’s stock worth $80,000 after buying an additional 710 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of First Commonwealth Financial by 16.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 8,169 shares of the bank’s stock worth $102,000 after buying an additional 1,164 shares during the period. KBC Group NV grew its position in shares of First Commonwealth Financial by 23.2% during the 1st quarter. KBC Group NV now owns 8,402 shares of the bank’s stock worth $104,000 after buying an additional 1,581 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of First Commonwealth Financial by 20.5% during the 3rd quarter. Captrust Financial Advisors now owns 10,234 shares of the bank’s stock worth $131,000 after buying an additional 1,739 shares during the period. Institutional investors and hedge funds own 66.73% of the company’s stock.

First Commonwealth Financial Stock Down 0.8 %

First Commonwealth Financial stock opened at $12.04 on Friday. The company’s 50 day simple moving average is $13.36 and its 200 day simple moving average is $12.98. First Commonwealth Financial Co. has a fifty-two week low of $11.32 and a fifty-two week high of $16.53. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.94.

First Commonwealth Financial (NYSE:FCF – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. First Commonwealth Financial had a net margin of 27.15% and a return on equity of 14.05%. The business had revenue of $155.79 million for the quarter, compared to analyst estimates of $121.91 million. During the same quarter last year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that First Commonwealth Financial Co. will post 1.63 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 4th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Thursday, August 3rd. First Commonwealth Financial’s payout ratio is currently 34.25%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th.

Get Our Latest Research Report on First Commonwealth Financial

First Commonwealth Financial Company Profile

(Free Report)

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.

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

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