First Commonwealth Financial (NYSE:FCF) CFO Sells $42,476.00 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.50, for a total transaction of $42,476.00. Following the completion of the sale, the chief financial officer directly owned 77,204 shares of the company’s stock, valued at $1,582,682. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Price Performance

NYSE FCF traded down $0.11 during midday trading on Tuesday, hitting $20.38. The company had a trading volume of 214,399 shares, compared to its average volume of 809,376. The firm has a 50-day moving average price of $19.16 and a 200-day moving average price of $18.24. The company has a market capitalization of $2.07 billion, a PE ratio of 13.51 and a beta of 0.74. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $20.87.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $134.32 million. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.14 per share. The ex-dividend date was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio is presently 37.09%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of First Commonwealth Financial by 2,250.5% in 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 during the last quarter. Smithfield Trust Co bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $51,000. TD Private Client Wealth LLC grew its position 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 valued at $61,000 after buying an additional 621 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at about $85,000. Finally, GAMMA Investing LLC raised its position in shares of First Commonwealth Financial by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock worth $108,000 after acquiring an additional 1,460 shares during the last quarter. Institutional investors and hedge funds 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.