Vanguard Amends FCF Stake, Maintains Passive Ownership

TL;DR

**Vanguard updated its FCF filing, still a big, passive holder.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its beneficial ownership of First Commonwealth Financial Corp (FCF) common stock as of December 29, 2023. This filing is an update to their previous disclosures, confirming their continued significant, passive stake in the company. For investors, this means a large institutional holder like Vanguard maintains its position, which can signal stability and long-term confidence in FCF's performance.

Why It Matters

This filing confirms Vanguard's continued significant, passive ownership in First Commonwealth Financial Corp, signaling institutional confidence in the company's long-term prospects. It's important for investors to see that major institutions are holding their positions.

Risk Assessment

Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate change in investment strategy or significant risk.

Analyst Insight

A smart investor would view this as a routine update from a major institutional investor, confirming their continued, passive interest in First Commonwealth Financial Corp. It doesn't signal an immediate buy or sell, but rather a stable institutional presence.

Key Players & Entities

• The Vanguard Group (company) — reporting person and beneficial owner
• First Commonwealth Financial Corp (company) — issuer of the securities
• Pennsylvania (company) — place of organization for Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date

Forward-Looking Statements

• Vanguard will maintain its passive investment strategy in First Commonwealth Financial Corp. (The Vanguard Group) — high confidence, target: Next 12 months
• First Commonwealth Financial Corp's stock price will not experience significant volatility directly due to this routine filing. (First Commonwealth Financial Corp) — high confidence, target: Next 30 days

FAQ

Filing Documents

• tv0931-firstcommonwealthfina.htm (SC 13G/A) — 11KB
• 0001104659-24-020931.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: First Commonwealth Financial Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 601 Philadelphia Street Indiana, PA 15701-0400

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 319829107

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR