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 on Friday, September 4th. The stock was sold at an average price of $21.25, for a total value of $44,030.00. Following the transaction, the chief financial officer owned 73,060 shares in the company, valued at approximately $1,552,525. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Performance

FCF opened at $21.39 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $22.34. The firm has a market cap of $2.16 billion, a P/E ratio of 13.12 and a beta of 0.74. The business’s fifty day moving average is $21.00 and its 200-day moving average is $19.29.

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

First Commonwealth Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 7th. First Commonwealth Financial’s payout ratio is currently 34.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FCF shares. Royal Bank Of Canada raised their target price on First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of First Commonwealth Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Friday, August 14th. Four 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Institutional Trading of First Commonwealth Financial

A number of hedge funds and other institutional investors have recently modified their holdings of FCF. Weiss Asset Management LP bought a new stake in First Commonwealth Financial during the 1st quarter worth $1,751,000. UBS Group AG raised its position in First Commonwealth Financial by 103.0% in the fourth quarter. UBS Group AG now owns 210,197 shares of the bank’s stock valued at $3,544,000 after purchasing an additional 106,654 shares during the last quarter. Bank of America Corp DE raised its position in First Commonwealth Financial by 95.4% in the first quarter. Bank of America Corp DE now owns 559,989 shares of the bank’s stock valued at $9,845,000 after purchasing an additional 273,351 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of First Commonwealth Financial by 147.1% during the fourth quarter. Intech Investment Management LLC now owns 239,641 shares of the bank’s stock valued at $4,040,000 after purchasing an additional 142,645 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of First Commonwealth Financial by 453.3% during the first quarter. Renaissance Technologies LLC now owns 215,591 shares of the bank’s stock valued at $3,790,000 after purchasing an additional 176,626 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

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.