Insider Selling: First Commonwealth Financial (NYSE:FCF) CFO Sells $37,208.10 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,190 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $16.99, for a total transaction of $37,208.10. Following the completion of the transaction, the chief financial officer directly owned 85,866 shares of the company’s stock, valued at approximately $1,458,863.34. The trade was a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock opened at $16.58 on Friday. The stock’s 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 12.75 and a beta of 0.82. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $131.33 million during the quarter, compared to analyst estimates of $125.88 million. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.During the same quarter in the prior year, the company earned $0.37 EPS. As a group, analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 annualized dividend and a yield of 3.3%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 41.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FCF. State Street Corp increased its position in shares of First Commonwealth Financial by 2.4% during the second quarter. State Street Corp now owns 4,734,957 shares of the bank’s stock valued at $76,848,000 after acquiring an additional 112,731 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in First Commonwealth Financial by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,159,706 shares of the bank’s stock valued at $64,642,000 after acquiring an additional 203,052 shares in the last quarter. Franklin Resources Inc. boosted its stake in First Commonwealth Financial by 22.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,922,543 shares of the bank’s stock valued at $63,663,000 after purchasing an additional 719,680 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of First Commonwealth Financial by 67.6% in the 2nd quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock worth $58,394,000 after purchasing an additional 1,451,544 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of First Commonwealth Financial by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,528,250 shares of the bank’s stock worth $41,039,000 after purchasing an additional 56,324 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

Analyst Ratings Changes

FCF has been the topic of a number of recent research reports. Zacks Research downgraded shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Wall Street Zen raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.90.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.