First Commonwealth Financial Corporation (FCF) to Issue Quarterly Dividend of $0.14 on November 21st

First Commonwealth Financial Corporation (NYSE:FCF) declared a quarterly dividend on Tuesday, October 28th. Shareholders of record on Friday, November 7th will be paid a dividend of 0.135 per share by the bank on Friday, November 21st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, November 7th.

First Commonwealth Financial has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Commonwealth Financial to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 34.4%.

First Commonwealth Financial Stock Down 5.5%

Shares of NYSE FCF opened at $15.49 on Thursday. First Commonwealth Financial has a 1 year low of $13.54 and a 1 year high of $19.96. The firm’s 50 day moving average price is $17.05 and its 200 day moving average price is $16.38. The firm has a market cap of $1.62 billion, a P/E ratio of 11.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, October 28th. The bank reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). First Commonwealth Financial had a net margin of 20.00% and a return on equity of 10.26%. The business had revenue of $135.96 million during the quarter, compared to analysts’ expectations of $136.30 million. During the same period in the prior year, the business posted $0.31 EPS. As a group, sell-side analysts anticipate that First Commonwealth Financial will post 1.45 earnings per share for the current year.

Insider Activity

In other news, CFO James R. Reske sold 2,190 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the completion of the transaction, the chief financial officer owned 85,866 shares of the company’s stock, valued at approximately $1,458,863.34. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael P. Mccuen acquired 2,826 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $17.67 per share, with a total value of $49,935.42. Following the purchase, the executive vice president directly owned 59,021 shares of the company’s stock, valued at $1,042,901.07. This trade represents a 5.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 6,570 shares of company stock valued at $112,544 in the last ninety days. 2.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Several large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of First Commonwealth Financial by 2,911.4% during the 1st quarter. US Bancorp DE now owns 2,379 shares of the bank’s stock valued at $37,000 after acquiring an additional 2,300 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 2,498 shares during the period. GAMMA Investing LLC grew its stake in First Commonwealth Financial by 109.6% in the second quarter. GAMMA Investing LLC now owns 4,438 shares of the bank’s stock worth $72,000 after purchasing an additional 2,321 shares during the period. CWM LLC grew its stake in shares of First Commonwealth Financial by 73.6% in the first quarter. CWM LLC now owns 7,932 shares of the bank’s stock worth $123,000 after acquiring an additional 3,362 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of First Commonwealth Financial during the first quarter valued at $156,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

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.