First Commonwealth Financial (NYSE:FCF) Reaches New 12-Month High – Still a Buy?

First Commonwealth Financial Corporation (NYSE:FCF) hit a new 52-week high during trading on Thursday . The stock traded as high as $19.73 and last traded at $19.6950, with a volume of 471581 shares trading hands. The stock had previously closed at $19.53.

Analyst Upgrades and Downgrades

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

First Commonwealth Financial Stock Up 1.7%

The firm has a 50-day moving average of $18.67 and a 200 day moving average of $17.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 13.20 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. As a group, sell-side analysts forecast that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.14 dividend. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is currently 37.09%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Norman J. Montgomery sold 12,964 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $18.37, for a total value of $238,148.68. Following the sale, the executive vice president owned 50,104 shares in the company, valued at $920,410.48. This 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 available at this link. Also, EVP Michael P. Mccuen sold 5,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the completion of the sale, the executive vice president owned 56,861 shares in the company, valued at $1,056,477.38. This represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,430 shares of company stock worth $908,796 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 2,498 shares during the period. Smithfield Trust Co bought a new position in shares of First Commonwealth Financial during the fourth quarter worth approximately $51,000. TD Private Client Wealth LLC increased its stake in shares of First Commonwealth Financial by 20.7% during the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after purchasing an additional 621 shares during the period. iSAM Funds UK Ltd bought a new position in shares of First Commonwealth Financial during the third quarter worth approximately $85,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of First Commonwealth Financial by 58.5% during the third 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 period. 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.