First Commonwealth Financial (NYSE:FCF) Reaches New 52-Week High – What’s Next?

First Commonwealth Financial Corporation (NYSE:FCF) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $21.00 and last traded at $21.0620, with a volume of 32045 shares traded. The stock had previously closed at $20.64.

Wall Street Analyst Weigh In

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

First Commonwealth Financial Stock Up 2.7%

The firm has a market cap of $2.16 billion, a PE ratio of 14.05 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $19.41 and a two-hundred day moving average price of $18.38.

First Commonwealth Financial (NYSE:FCF) last released its earnings results 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 for the quarter, compared to analyst estimates of $134.32 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts expect that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.14 per share. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is presently 37.09%.

Insider Transactions at First Commonwealth Financial

In related news, EVP Norman J. Montgomery sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $18.34, for a total transaction of $458,500.00. Following the sale, the executive vice president directly owned 63,068 shares in the company, valued at approximately $1,156,667.12. This represents a 28.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Mccuen sold 5,250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the sale, the executive vice president directly 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,430 shares of company stock valued at $914,266. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Commonwealth Financial

Several institutional investors have recently modified their holdings of the company. ProShare Advisors LLC grew its position in shares of First Commonwealth Financial by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock valued at $341,000 after buying an additional 585 shares during the last quarter. TD Private Client Wealth LLC raised its stake in First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after acquiring an additional 621 shares in the last quarter. Rafferty Asset Management LLC lifted its position in 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 during the last quarter. Bill Few Associates Inc. lifted its position in First Commonwealth Financial by 3.6% in the second quarter. Bill Few Associates Inc. now owns 26,167 shares of the bank’s stock valued at $532,000 after acquiring an additional 905 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in 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 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.