Insider Selling: First Commonwealth Financial (NYSE:FCF) CFO Sells $38,373.44 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.52, for a total value of $38,373.44. Following the transaction, the chief financial officer owned 81,348 shares of the company’s stock, valued at approximately $1,506,564.96. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $18.58 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.32. The company has a market cap of $1.90 billion, a PE ratio of 12.30 and a beta of 0.75. First Commonwealth Financial Corporation has a 12-month low of $15.00 and a 12-month high of $19.14.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a dividend of $0.14 per share. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, May 8th. First Commonwealth Financial’s payout ratio is presently 35.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FCF shares. Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their target price on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, First Commonwealth Financial currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. Smithfield Trust Co bought a new position in shares of First Commonwealth Financial in the fourth quarter valued at $51,000. TD Private Client Wealth LLC increased its holdings in shares of First Commonwealth Financial by 20.7% in the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after buying an additional 621 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of First Commonwealth Financial in the third quarter valued at $85,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of First Commonwealth Financial by 58.5% in the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after buying an additional 1,950 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

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.