First Commonwealth Financial (NYSE:FCF) CFO James Reske Sells 2,072 Shares of Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.52, for a total value of $38,373.44. Following the completion of the sale, the chief financial officer owned 81,348 shares in the company, valued at $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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Trading Up 0.1%

Shares of FCF opened at $18.62 on Thursday. The business’s 50-day moving average price is $17.88 and its 200-day moving average price is $17.30. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $19.14. The stock has a market cap of $1.90 billion, a PE ratio of 12.33 and a beta of 0.75. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09.

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

First Commonwealth Financial Increases Dividend

The business also recently declared 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 dividend payout ratio (DPR) is currently 37.09%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on 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, Raymond James Financial set a $20.00 price target on First Commonwealth Financial and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FCF. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchased a new position in shares of First Commonwealth Financial during the fourth quarter worth about $51,000. TD Private Client Wealth LLC boosted its stake in 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 worth $61,000 after buying an additional 621 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in First Commonwealth Financial in the third quarter worth approximately $85,000. Finally, Smartleaf Asset Management LLC boosted its stake in First Commonwealth Financial by 58.5% in 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 in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.