First Commonwealth Financial (NYSE:FCF) CFO Sells $36,425.76 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $17.58, for a total transaction of $36,425.76. Following the completion of the transaction, the chief financial officer directly owned 85,492 shares of the company’s stock, valued at approximately $1,502,949.36. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

First Commonwealth Financial Stock Performance

FCF opened at $17.24 on Monday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 11.81 and a beta of 0.79. The business’s 50-day moving average price is $17.78 and its two-hundred day moving average price is $17.11. First Commonwealth Financial Corporation has a 1 year low of $13.54 and a 1 year high of $19.08. 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 posted its quarterly earnings data on Wednesday, January 28th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $137.82 million during the quarter, compared to analysts’ expectations of $135.63 million. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.First Commonwealth Financial’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial declared that its board has authorized a share repurchase program on Monday, December 1st that permits the company to buyback $25.00 million in shares. This buyback authorization permits the bank to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a $0.135 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.54 annualized dividend and a yield of 3.1%. First Commonwealth Financial’s payout ratio is presently 36.99%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FCF. EverSource Wealth Advisors LLC raised its stake in shares of First Commonwealth Financial by 2,250.5% during the 2nd 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 grew its stake 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 acquired a new position in First Commonwealth Financial during the third quarter worth $85,000. Finally, Smartleaf Asset Management LLC increased its holdings in First Commonwealth Financial by 58.5% during the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock worth $91,000 after buying an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the company an “outperform” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. 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 report on Thursday, January 29th. Finally, Piper Sandler started coverage on shares of First Commonwealth Financial in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

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.