First Commonwealth Financial (NYSE:FCF) CFO James Reske Sells 2,250 Shares of Company Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $21.91, for a total transaction of $49,297.50. Following the transaction, the chief financial officer owned 68,738 shares of the company’s stock, valued at approximately $1,506,049.58. The trade was a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Down 0.9%

Shares of FCF stock traded down $0.18 on Friday, reaching $20.89. 471,671 shares of the company were exchanged, compared to its average volume of 820,619. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 12.36 and a beta of 0.72. The company has a 50-day moving average of $20.77 and a 200-day moving average of $19.52. First Commonwealth Financial Corporation has a one year low of $15.30 and a one year high of $22.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.91.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, October 27th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). First Commonwealth Financial had a return on equity of 11.17% and a net margin of 23.06%. The company had revenue of $143.34 million for the quarter, compared to the consensus estimate of $141.36 million. Analysts anticipate that First Commonwealth Financial Corporation will post 1.74 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 6th. First Commonwealth Financial’s dividend payout ratio is 33.14%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FCF. Weiss Ratings raised First Commonwealth Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Keefe, Bruyette & Woods increased their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. DA Davidson set a $23.00 price objective on shares of First Commonwealth Financial in a report on Thursday, October 29th. Royal Bank Of Canada upped their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System boosted its position in shares of First Commonwealth Financial by 51.8% during the third quarter. Maryland State Retirement & Pension System now owns 22,207 shares of the bank’s stock worth $449,000 after acquiring an additional 7,574 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of First Commonwealth Financial in the third quarter valued at $243,000. Choreo LLC boosted its position in shares of First Commonwealth Financial by 7.0% during the third quarter. Choreo LLC now owns 11,376 shares of the bank’s stock valued at $230,000 after buying an additional 749 shares during the period. Assenagon Asset Management S.A. bought a new position in First Commonwealth Financial in the 3rd quarter valued at $494,000. Finally, Cim Investment Management Inc. increased its stake in First Commonwealth Financial by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 11,657 shares of the bank’s stock worth $237,000 after buying an additional 789 shares during the period. Institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.