James Reske Sells 2,072 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the completion of the sale, the chief financial officer directly owned 83,420 shares in the company, valued at approximately $1,489,881.20. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Up 2.4%

FCF stock opened at $18.60 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. First Commonwealth Financial Corporation has a fifty-two week low of $13.77 and a fifty-two week high of $19.08. The firm’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $17.06. The stock has a market cap of $1.90 billion, a PE ratio of 12.74 and a beta of 0.76.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Wednesday, January 28th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $137.82 million for the quarter, compared to analysts’ expectations of $135.63 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. First Commonwealth Financial’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. As a group, sell-side analysts predict that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.54 annualized dividend and a yield of 2.9%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 36.99%.

Analyst Ratings Changes

FCF has been the topic of several research analyst reports. Raymond James Financial set a $20.00 target price on shares of First Commonwealth Financial and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Piper Sandler initiated coverage on shares of First Commonwealth Financial in a research note on Wednesday, December 17th. They set an “overweight” rating and a $21.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of First Commonwealth Financial by 2,250.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock worth $42,000 after purchasing an additional 2,498 shares during the last quarter. Smithfield Trust Co acquired a new position in shares of First Commonwealth Financial in the 4th quarter worth approximately $51,000. TD Private Client Wealth LLC grew its stake in shares of First Commonwealth Financial by 20.7% in the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock worth $61,000 after purchasing an additional 621 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of First Commonwealth Financial in the 3rd quarter worth approximately $85,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of First Commonwealth Financial by 58.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock worth $91,000 after purchasing an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

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.