First Commonwealth Financial Corporation (NYSE:FCF) Declares $0.14 Quarterly Dividend

First Commonwealth Financial Corporation (NYSE:FCF) declared a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 6th will be paid a dividend of 0.135 per share by the bank on Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, February 6th.

First Commonwealth Financial has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 9 consecutive years. First Commonwealth Financial has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of FCF traded down $0.08 during trading hours on Wednesday, hitting $17.63. The company’s stock had a trading volume of 225,322 shares, compared to its average volume of 559,214. The business has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $16.81. First Commonwealth Financial has a 52-week low of $13.54 and a 52-week high of $18.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 12.76 and a beta of 0.79.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. First Commonwealth Financial had a net margin of 20.00% and a return on equity of 10.12%. The company had revenue of $137.82 million during the quarter, compared to the consensus estimate of $135.63 million. During the same period last year, the firm earned $0.35 EPS. First Commonwealth Financial’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts expect that First Commonwealth Financial will post 1.45 earnings per share for the current fiscal year.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 3,090 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average price of $16.19 per share, for a total transaction of $50,027.10. Following the completion of the acquisition, the executive vice president owned 62,111 shares of the company’s stock, valued at approximately $1,005,577.09. This trade represents a 5.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $16.74, for a total transaction of $34,685.28. Following the completion of the transaction, the chief financial officer owned 80,311 shares in the company, valued at $1,344,406.14. The trade was a 2.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,555 shares of company stock valued at $90,752 in the last quarter. Corporate insiders own 2.17% of the company’s stock.

Institutional Trading of First Commonwealth Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of First Commonwealth Financial during the second quarter valued at approximately $411,000. Vest Financial LLC increased its holdings in shares of First Commonwealth Financial by 24.9% in the 2nd quarter. Vest Financial LLC now owns 118,422 shares of the bank’s stock worth $1,922,000 after purchasing an additional 23,622 shares in the last quarter. First Trust Advisors LP raised its stake in shares of First Commonwealth Financial by 67.6% in the second quarter. First Trust Advisors LP now owns 3,597,925 shares of the bank’s stock worth $58,394,000 after purchasing an additional 1,451,544 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of First Commonwealth Financial by 1.2% during the second quarter. Nordea Investment Management AB now owns 218,420 shares of the bank’s stock valued at $3,567,000 after purchasing an additional 2,598 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of First Commonwealth Financial by 2.3% during the second quarter. Janney Montgomery Scott LLC now owns 123,795 shares of the bank’s stock valued at $2,009,000 after purchasing an additional 2,830 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

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.