First Commonwealth Financial (NYSE:FCF) CFO Sells $42,476.00 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the completion of the transaction, the chief financial officer owned 77,204 shares in the company, valued at $1,582,682. This represents a 2.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Up 1.4%

Shares of First Commonwealth Financial stock opened at $20.25 on Friday. The business has a 50-day moving average of $19.25 and a 200-day moving average of $18.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $2.06 billion, a PE ratio of 13.41 and a beta of 0.74. First Commonwealth Financial Corporation has a 1-year low of $15.00 and a 1-year high of $20.87.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The business had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $134.32 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.8%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 37.09%.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in First Commonwealth Financial by 2,250.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after purchasing an additional 2,498 shares during the last quarter. Smithfield Trust Co bought a new stake in First Commonwealth Financial during the fourth quarter valued at $51,000. TD Private Client Wealth LLC increased its stake in First Commonwealth Financial by 20.7% during the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after purchasing an additional 621 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of First Commonwealth Financial during the third quarter worth $85,000. Finally, GAMMA Investing LLC raised its holdings in shares of First Commonwealth Financial by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock worth $108,000 after purchasing an additional 1,460 shares during the period. 72.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

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.