EntryPoint Capital LLC Takes Position in First Commonwealth Financial Corporation $FCF

Key Points

• EntryPoint Capital LLC has acquired a new stake in First Commonwealth Financial Corporation (NYSE: FCF), purchasing 14,822 shares valued at approximately $230,000 during the first quarter.
• The company's most recent earnings report revealed a profit of $0.38 per share, surpassing analyst expectations of $0.34.
• First Commonwealth Financial also declared a quarterly dividend of $0.135 per share, which represents an annual yield of 3.0% and a dividend payout ratio of 41.54%.

EntryPoint Capital LLC purchased a new stake in shares of First Commonwealth Financial Corporation (NYSE:FCF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,822 shares of the bank's stock, valued at approximately $230,000.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of First Commonwealth Financial by 5.8% during the first quarter. PNC Financial Services Group Inc. now owns 16,715 shares of the bank's stock valued at $260,000 after purchasing an additional 918 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of First Commonwealth Financial by 8.0% during the fourth quarter. Cetera Investment Advisers now owns 14,154 shares of the bank's stock valued at $239,000 after purchasing an additional 1,053 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of First Commonwealth Financial by 1.2% during the first quarter. Federated Hermes Inc. now owns 123,753 shares of the bank's stock valued at $1,923,000 after purchasing an additional 1,514 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of First Commonwealth Financial by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,458 shares of the bank's stock valued at $465,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of First Commonwealth Financial by 10.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,680 shares of the bank's stock valued at $337,000 after purchasing an additional 2,088 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other First Commonwealth Financial news, CFO James R. Reske sold 2,190 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $16.66, for a total value of $36,485.40. Following the sale, the chief financial officer directly owned 90,246 shares in the company, valued at approximately $1,503,498.36. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.17% of the company's stock.

First Commonwealth Financial Trading Up 5.0%

FCF opened at $17.7060 on Friday. The firm's fifty day moving average is $16.53 and its two-hundred day moving average is $15.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $1.85 billion, a PE ratio of 13.62 and a beta of 0.84. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same period last year, the business posted $0.37 earnings per share. Equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 3.0%. First Commonwealth Financial's dividend payout ratio (DPR) is 41.54%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FCF shares. Wall Street Zen upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods cut their price objective on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.90.

First Commonwealth Financial Company Profile

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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