First Commonwealth Financial (NYSE:FCF) CFO James Reske Sells 2,072 Shares

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the completion of the transaction, the chief financial officer owned 77,204 shares in the company, valued at $1,582,682. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Trading Down 0.9%

Shares of FCF stock opened at $20.30 on Wednesday. First Commonwealth Financial Corporation has a 1 year low of $15.00 and a 1 year high of $20.87. The firm has a fifty day moving average price of $19.20 and a 200-day moving average price of $18.25. 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 company has a market cap of $2.06 billion, a price-to-earnings ratio of 13.44 and a beta of 0.74.

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

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.14 dividend. The ex-dividend date was Friday, May 8th. This is a positive change 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 2.8%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 37.09%.

Analyst Ratings Changes

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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in First Commonwealth Financial by 2,250.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after buying an additional 2,498 shares in the last quarter. Smithfield Trust Co bought a new position in shares of First Commonwealth Financial in the fourth quarter worth about $51,000. TD Private Client Wealth LLC grew its position 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 in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of First Commonwealth Financial during the third quarter worth about $85,000. Finally, GAMMA Investing LLC raised its stake in First Commonwealth Financial by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 6,378 shares of the bank’s stock valued at $108,000 after purchasing an additional 1,460 shares during the period. 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.