Raymond James Financial Services Advisors Inc. Acquires 3,989 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Posted by on Nov 4th, 2023

Raymond James Financial Services Advisors Inc. increased its holdings in First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,265 shares of the bank’s stock after acquiring an additional 3,989 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in First Commonwealth Financial were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Raymond James & Associates increased its stake in shares of First Commonwealth Financial by 38.4% in the 2nd quarter. Raymond James & Associates now owns 37,741 shares of the bank’s stock worth $477,000 after acquiring an additional 10,473 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in First Commonwealth Financial by 12.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 54,000 shares of the bank’s stock valued at $683,000 after purchasing an additional 6,100 shares in the last quarter. Brandywine Global Investment Management LLC increased its stake in First Commonwealth Financial by 26.6% during the 1st quarter. Brandywine Global Investment Management LLC now owns 130,085 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 27,314 shares in the last quarter. Royce & Associates LP increased its stake in First Commonwealth Financial by 94.9% during the 1st quarter. Royce & Associates LP now owns 23,000 shares of the bank’s stock valued at $286,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in First Commonwealth Financial by 11.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,066,044 shares of the bank’s stock valued at $13,251,000 after purchasing an additional 105,546 shares in the last quarter. 66.73% of the stock is currently owned by institutional investors.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $13.24 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.36 billion, a PE ratio of 8.95 and a beta of 0.90. The firm’s 50-day moving average price is $12.42 and its 200-day moving average price is $12.87. First Commonwealth Financial Co. has a 52-week low of $11.16 and a 52-week high of $16.53.

First Commonwealth Financial (NYSE:FCF – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $164.71 million during the quarter, compared to analysts’ expectations of $123.21 million. First Commonwealth Financial had a return on equity of 13.85% and a net margin of 25.57%. During the same period in the previous year, the business posted $0.37 EPS. As a group, analysts anticipate that First Commonwealth Financial Co. will post 1.65 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, November 2nd. First Commonwealth Financial’s payout ratio is 33.78%.

Analyst Upgrades and Downgrades

FCF has been the subject of a number of analyst reports. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Royal Bank of Canada reduced their price objective on shares of First Commonwealth Financial from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th.

Read Our Latest Stock Report on FCF

First Commonwealth Financial 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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