First Commonwealth Financial Corporation (NYSE:FCF) Shares to Pay Quarterly Dividend of $0.14

First Commonwealth Financial Corporation (NYSE:FCF) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Friday, November 6th will be given a dividend of $0.14 per share by the bank on Friday, November 20th. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 6th.

First Commonwealth Financial has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 28.7%.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $20.80 on Wednesday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 12.79 and a beta of 0.76. The business has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $19.37. First Commonwealth Financial has a 52 week low of $15.00 and a 52 week high of $22.34.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, October 27th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $143.34 million during the quarter, compared to analysts’ expectations of $141.36 million. On average, analysts predict that First Commonwealth Financial will post 1.73 EPS for the current year.

Insider Activity at First Commonwealth Financial

In other news, CFO James Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.52, for a total transaction of $42,517.44. Following the transaction, the chief financial officer owned 70,988 shares in the company, valued at $1,456,673.76. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,216 shares of company stock worth $131,821 over the last ninety days. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waverly Advisors LLC lifted its position in First Commonwealth Financial by 1.1% during the second quarter. Waverly Advisors LLC now owns 46,469 shares of the bank’s stock worth $945,000 after purchasing an additional 493 shares during the period. Cim Investment Management Inc. increased its holdings in First Commonwealth Financial by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 11,657 shares of the bank’s stock worth $237,000 after purchasing an additional 789 shares in the last quarter. Bill Few Associates Inc. increased its stake in shares of First Commonwealth Financial by 3.6% in the second quarter. Bill Few Associates Inc. now owns 26,167 shares of the bank’s stock valued at $532,000 after buying an additional 905 shares during the period. Penn Capital Management Company LLC grew its holdings in First Commonwealth Financial by 3.6% during the 2nd quarter. Penn Capital Management Company LLC now owns 28,189 shares of the bank’s stock worth $573,000 after acquiring an additional 971 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of First Commonwealth Financial by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 55,385 shares of the bank’s stock valued at $974,000 after acquiring an additional 1,244 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

About First Commonwealth Financial

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.