First Commonwealth Financial (NYSE:FCF) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

First Commonwealth Financial Corporation (NYSE:FCF)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.05 and traded as high as $18.17. First Commonwealth Financial shares last traded at $18.1160, with a volume of 522,096 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FCF shares. Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Piper Sandler started coverage on First Commonwealth Financial in a report on Wednesday, December 17th. They set an “overweight” rating and a $21.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Finally, Raymond James Financial set a $20.00 target price on First Commonwealth Financial and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

First Commonwealth Financial Trading Up 1.3%

The firm has a market cap of $1.85 billion, a P/E ratio of 12.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.95. The firm has a fifty day moving average of $17.74 and a 200-day moving average of $17.05.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Wednesday, January 28th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $137.82 million for the quarter, compared to the consensus estimate of $135.63 million. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, February 6th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.99%.

Insider Activity at First Commonwealth Financial

In related news, EVP Jane Grebenc sold 18,598 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $18.85, for a total value of $350,572.30. Following the sale, the executive vice president directly owned 158,975 shares in the company, valued at $2,996,678.75. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $17.58, for a total value of $36,425.76. Following the completion of the sale, the chief financial officer owned 85,492 shares in the company, valued at approximately $1,502,949.36. This represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.17% of the stock is owned by company insiders.

Institutional Trading of First Commonwealth Financial

Several large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its position in 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 acquiring an additional 585 shares during the period. TD Private Client Wealth LLC increased its position in 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 valued at $61,000 after acquiring an additional 621 shares during the period. PNC Financial Services Group Inc. increased its position in First Commonwealth Financial by 4.7% in the 3rd 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 during the period. Rafferty Asset Management LLC increased its position in First Commonwealth Financial by 0.9% in the 4th 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 period. Finally, The Manufacturers Life Insurance Company increased its position in First Commonwealth Financial by 0.4% in the 2nd 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 during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.

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.