First Commonwealth Financial (NYSE:FCF) EVP Sells $238,148.68 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Norman Montgomery sold 12,964 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $18.37, for a total value of $238,148.68. Following the transaction, the executive vice president owned 50,104 shares in the company, valued at approximately $920,410.48. This trade represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $18.62 on Thursday. The stock has a market capitalization of $1.90 billion, a P/E ratio of 12.33 and a beta of 0.75. The business has a 50-day moving average of $17.88 and a two-hundred day moving average of $17.30. First Commonwealth Financial Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $19.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 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 company had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. During the same period in the prior year, the company posted $0.32 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.0%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is 35.76%.

Institutional Investors Weigh In On First Commonwealth Financial

Several hedge funds have recently modified their holdings of FCF. EverSource Wealth Advisors LLC increased its position in First Commonwealth Financial by 2,250.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after acquiring an additional 2,498 shares during the period. Smithfield Trust Co acquired a new position in First Commonwealth Financial during the 4th quarter valued at $51,000. TD Private Client Wealth LLC boosted its holdings in 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 purchasing an additional 621 shares during the period. iSAM Funds UK Ltd acquired a new stake in First Commonwealth Financial in the 3rd quarter worth $85,000. Finally, Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 1,950 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on FCF shares. Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, First Commonwealth Financial currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

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.