First Commonwealth Financial (NYSE:FCF) EVP Sells $97,545.00 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen sold 5,250 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total transaction of $97,545.00. Following the transaction, the executive vice president owned 56,861 shares in the company, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Commonwealth Financial Stock Performance

NYSE FCF traded up $0.28 during trading hours on Thursday, reaching $18.91. The stock had a trading volume of 560,657 shares, compared to its average volume of 817,345. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $19.14. The stock has a fifty day moving average of $18.40 and a 200 day moving average of $17.68. The stock has a market cap of $1.92 billion, a P/E ratio of 12.52 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $134.32 million. During the same quarter in the prior year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts predict that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio is currently 37.09%.

Institutional Trading of First Commonwealth Financial

A number of institutional investors have recently modified their holdings of FCF. ProShare Advisors LLC lifted its position in shares of First Commonwealth Financial by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock valued at $341,000 after acquiring an additional 585 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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 valued at $61,000 after acquiring an additional 621 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of First Commonwealth Financial by 4.7% in the third quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the bank’s stock valued at $304,000 after acquiring an additional 802 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of First Commonwealth Financial by 0.9% in the fourth quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank’s stock valued at $1,585,000 after acquiring an additional 875 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of First Commonwealth Financial by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank’s stock valued at $4,880,000 after acquiring an additional 1,068 shares in the last quarter. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.33.

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.