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 business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $21.85, for a total value of $45,273.20. Following the transaction, the chief financial officer directly owned 75,132 shares in the company, valued at $1,641,634.20. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Down 1.2%

Shares of FCF opened at $21.42 on Friday. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $22.34. The company has a market capitalization of $2.18 billion, a PE ratio of 13.14 and a beta of 0.75. The stock has a fifty day simple moving average of $20.30 and a two-hundred day simple moving average of $18.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The business had revenue of $139.42 million for the quarter, compared to analyst estimates of $137.48 million. As a group, equities analysts forecast that First Commonwealth Financial Corporation will post 1.73 EPS for the current year.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.56 dividend on an annualized basis and a yield of 2.6%. First Commonwealth Financial’s payout ratio is 34.36%.

Institutional Investors Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of First Commonwealth Financial by 4.7% during the 4th quarter. State Street Corp now owns 4,854,021 shares of the bank’s stock worth $81,839,000 after purchasing an additional 216,099 shares during the period. Charles Schwab Investment Management Inc. raised its position in First Commonwealth Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,376,999 shares of the bank’s stock valued at $73,796,000 after purchasing an additional 34,594 shares during the period. Franklin Resources Inc. lifted its stake in First Commonwealth Financial by 0.5% during the third quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank’s stock worth $67,238,000 after purchasing an additional 21,061 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in First Commonwealth Financial by 6.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock worth $42,422,000 after purchasing an additional 162,079 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of First Commonwealth Financial by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,467,460 shares of the bank’s stock worth $41,607,000 after buying an additional 6,421 shares during the period. 72.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on FCF. Keefe, Bruyette & Woods increased their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Royal Bank Of Canada increased their price objective on First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.25.

First Commonwealth Financial Company Profile

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.