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

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $21.85, for a total transaction of $45,273.20. Following the completion of the transaction, the chief financial officer owned 75,132 shares of the company’s stock, valued at $1,641,634.20. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Price Performance

FCF stock traded down $0.11 during mid-day trading on Thursday, hitting $21.57. 195,438 shares of the stock were exchanged, compared to its average volume of 817,914. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial Corporation has a 12 month low of $15.00 and a 12 month high of $22.34. The business has a fifty day moving average price of $20.25 and a 200 day moving average price of $18.82.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $139.42 million during the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. On average, sell-side analysts anticipate that First Commonwealth Financial Corporation will post 1.73 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 34.36%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of First Commonwealth Financial by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock valued at $341,000 after buying an additional 585 shares during the period. TD Private Client Wealth LLC raised 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 worth $61,000 after buying an additional 621 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of First Commonwealth Financial by 0.9% in the fourth quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank’s stock worth $1,585,000 after buying an additional 875 shares during the period. Bill Few Associates Inc. lifted its stake in shares of First Commonwealth Financial by 3.6% during the 2nd quarter. Bill Few Associates Inc. now owns 26,167 shares of the bank’s stock worth $532,000 after acquiring an additional 905 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of First Commonwealth Financial by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank’s stock worth $4,880,000 after acquiring an additional 1,068 shares during the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th. Raymond James Financial restated an “outperform” rating and set a $24.00 price target on shares of First Commonwealth Financial in a research report on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective 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. Four 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

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.