Jane Grebenc Sells 18,598 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Jane Grebenc sold 18,598 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $18.85, for a total value of $350,572.30. Following the completion of the transaction, the executive vice president directly owned 158,975 shares of the company’s stock, valued at $2,996,678.75. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $18.40 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 12.60 and a beta of 0.81. The company has a 50 day moving average price of $17.44 and a 200-day moving average price of $16.92. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year high of $19.08.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The company had revenue of $137.82 million for the quarter, compared to analyst estimates of $135.63 million. During the same quarter last year, the business earned $0.35 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. Equities research analysts forecast that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, February 6th. First Commonwealth Financial’s payout ratio is currently 36.99%.

First Commonwealth Financial declared that its board has authorized a share repurchase program on Monday, December 1st that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the bank to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. DA Davidson cut shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler began coverage on shares of First Commonwealth Financial in a report on Wednesday, December 17th. They issued an “overweight” rating and a $21.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the company an “outperform” rating in a report on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Hedge Funds Weigh In On First Commonwealth Financial

Several hedge funds and other institutional investors have recently made changes to their positions in FCF. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 2,498 shares during the last quarter. Smithfield Trust Co purchased a new position in First Commonwealth Financial in the 4th quarter valued at $51,000. TD Private Client Wealth LLC boosted its stake in First Commonwealth Financial by 20.7% during the 4th 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 last quarter. iSAM Funds UK Ltd purchased a new stake in shares of First Commonwealth Financial during the third quarter worth $85,000. Finally, Smartleaf Asset Management LLC raised its position in shares of First Commonwealth Financial by 58.5% in the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after buying an additional 1,950 shares during the last quarter. Hedge funds and other 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.