First Commonwealth Financial (NYSE:FCF) CFO Sells $37,005.92 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the completion of the transaction, the chief financial officer directly owned 83,420 shares of the company’s stock, valued at approximately $1,489,881.20. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Trading Up 0.0%

FCF stock traded up $0.01 during trading on Tuesday, reaching $18.15. The company had a trading volume of 730,632 shares, compared to its average volume of 888,669. First Commonwealth Financial Corporation has a 52 week low of $13.77 and a 52 week high of $19.08. The company has a market cap of $1.85 billion, a P/E ratio of 12.43 and a beta of 0.76. The business has a 50 day moving average of $17.74 and a 200 day moving average of $17.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Wednesday, January 28th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The company had revenue of $137.82 million during the quarter, compared to the consensus estimate of $135.63 million. During the same period in the prior year, the firm earned $0.35 earnings per share. First Commonwealth Financial’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.0%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.99%.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of First Commonwealth Financial by 67.6% during the second quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock valued at $58,394,000 after buying an additional 1,451,544 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in First Commonwealth Financial in the third quarter worth approximately $1,160,000. JPMorgan Chase & Co. boosted its holdings in First Commonwealth Financial by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock worth $12,972,000 after purchasing an additional 111,586 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in First Commonwealth Financial by 102.1% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 779,194 shares of the bank’s stock worth $13,285,000 after purchasing an additional 393,681 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in First Commonwealth Financial by 146.5% in the fourth quarter. SG Americas Securities LLC now owns 97,976 shares of the bank’s stock worth $1,652,000 after purchasing an additional 58,229 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Analyst Ratings Changes

FCF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Raymond James Financial set a $20.00 target price on shares of First Commonwealth Financial and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research note on Thursday, January 22nd. Finally, Piper Sandler initiated coverage on shares of First Commonwealth Financial in a research note on Wednesday, December 17th. They set an “overweight” rating and a $21.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.75.

First Commonwealth Financial Company Profile

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.