Insider Selling: First Commonwealth Financial (NYSE:FCF) CFO Sells $39,222.96 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $18.93, for a total transaction of $39,222.96. Following the completion of the sale, the chief financial officer directly owned 79,276 shares of the company’s stock, valued at approximately $1,500,694.68. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Trading Up 1.0%

NYSE:FCF opened at $19.55 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. First Commonwealth Financial Corporation has a 12 month low of $15.00 and a 12 month high of $19.71. The company has a market cap of $1.99 billion, a PE ratio of 12.94 and a beta of 0.75. The company has a 50 day simple moving average of $18.59 and a two-hundred day simple moving average of $17.80.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Research analysts forecast 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 declared 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. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a dividend yield of 2.9%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio is 37.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG lifted its stake in shares of First Commonwealth Financial by 103.0% during the 4th quarter. UBS Group AG now owns 210,197 shares of the bank’s stock valued at $3,544,000 after buying an additional 106,654 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of First Commonwealth Financial by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 97,976 shares of the bank’s stock valued at $1,652,000 after buying an additional 58,229 shares in the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of First Commonwealth Financial during the 3rd quarter valued at $1,160,000. Intech Investment Management LLC lifted its stake in shares of First Commonwealth Financial by 147.1% during the 4th quarter. Intech Investment Management LLC now owns 239,641 shares of the bank’s stock valued at $4,040,000 after buying an additional 142,645 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of First Commonwealth Financial by 17.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock valued at $12,972,000 after buying an additional 111,586 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, First Commonwealth Financial presently has an average rating of “Moderate Buy” and an average price target 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.