First Commonwealth Financial (NYSE:FCF) CFO Sells $39,222.96 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $18.93, for a total value of $39,222.96. Following the sale, the chief financial officer owned 79,276 shares in the company, valued at $1,500,694.68. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Up 0.3%

Shares of NYSE FCF traded up $0.07 during mid-day trading on Monday, hitting $19.18. 545,977 shares of the stock traded hands, compared to its average volume of 818,733. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Corporation has a 52 week low of $15.00 and a 52 week high of $19.37. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 12.70 and a beta of 0.75. The stock has a fifty day moving average price of $18.47 and a 200-day moving average price of $17.72.

First Commonwealth Financial (NYSE:FCF) last released 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 firm 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 firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts anticipate that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio is 37.09%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of FCF. EverSource Wealth Advisors LLC boosted its stake in shares of First Commonwealth Financial by 2,250.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after buying an additional 2,498 shares during the last quarter. Smithfield Trust Co purchased a new position in shares of First Commonwealth Financial in the 4th quarter worth $51,000. TD Private Client Wealth LLC boosted its stake in shares of First Commonwealth Financial by 20.7% in the 4th 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 during the last quarter. iSAM Funds UK Ltd purchased a new position in shares of First Commonwealth Financial in the 3rd quarter worth $85,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of First Commonwealth Financial by 58.5% in the 3rd 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. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

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.