Michael Mccuen Sells 5,250 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen sold 5,250 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total value of $97,545.00. Following the transaction, the executive vice president directly owned 56,861 shares in the company, valued at $1,056,477.38. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

First Commonwealth Financial Price Performance

FCF opened at $19.08 on Friday. First Commonwealth Financial Corporation has a 12-month low of $15.00 and a 12-month high of $19.19. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $18.47 and its 200-day simple moving average is $17.71. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 12.63 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share 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 the consensus estimate of $134.32 million. During the same period in the previous year, the business earned $0.32 EPS. First Commonwealth Financial’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a yield of 2.9%. First Commonwealth Financial’s dividend payout ratio is 37.09%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Smithfield Trust Co acquired a new stake in First Commonwealth Financial in the fourth quarter worth about $51,000. TD Private Client Wealth LLC boosted its holdings in First Commonwealth Financial by 20.7% in the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after acquiring an additional 621 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in First Commonwealth Financial in the third quarter worth about $85,000. Finally, Smartleaf Asset Management LLC boosted its holdings in First Commonwealth Financial by 58.5% in the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock worth $91,000 after acquiring an additional 1,950 shares in the last quarter. Institutional investors and hedge funds 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.