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

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the completion of the sale, the chief financial officer owned 83,420 shares in the company, valued at $1,489,881.20. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing 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 Stock Performance

FCF stock traded up $0.01 on Tuesday, hitting $18.15. The company had a trading volume of 730,632 shares, compared to its average volume of 888,669. First Commonwealth Financial Corporation has a 12-month low of $13.77 and a 12-month high of $19.08. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $17.74 and its 200 day simple moving average is $17.05. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 12.43 and a beta of 0.76.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Wednesday, January 28th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The company had revenue of $137.82 million for the quarter, compared to analysts’ expectations of $135.63 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a $0.135 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.54 annualized dividend and a yield of 3.0%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.99%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FCF shares. Raymond James Financial set a $20.00 price target on shares of First Commonwealth Financial and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Piper Sandler started coverage on shares of First Commonwealth Financial in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Institutional Trading of First Commonwealth Financial

Several institutional investors and hedge funds have recently modified their holdings of FCF. EverSource Wealth Advisors LLC raised its position 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 valued at $42,000 after purchasing an additional 2,498 shares during the period. Smithfield Trust Co bought a new stake in shares of First Commonwealth Financial during the 4th quarter valued at $51,000. TD Private Client Wealth LLC raised its position in shares of First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after purchasing an additional 621 shares during the period. iSAM Funds UK Ltd bought a new stake in shares of First Commonwealth Financial during the 3rd quarter valued at $85,000. Finally, Smartleaf Asset Management LLC raised its position in shares of First Commonwealth Financial by 58.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after purchasing an additional 1,950 shares during the period. 72.58% of the stock is currently owned by 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.