First Commonwealth Financial (NYSE:FCF) EVP Michael Mccuen Sells 5,250 Shares

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen sold 5,250 shares of First Commonwealth Financial stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the sale, the executive vice president directly owned 56,861 shares of the company’s stock, valued at $1,056,477.38. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

First Commonwealth Financial Price Performance

NYSE:FCF opened at $18.95 on Friday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.55 and a beta of 0.75. First Commonwealth Financial Corporation has a 52-week low of $15.00 and a 52-week high of $19.14. The stock has a fifty day moving average of $18.43 and a 200 day moving average of $17.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) 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 the consensus estimate of $134.32 million. First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. First Commonwealth Financial’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, research analysts expect that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.14 per share. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is 37.09%.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in First Commonwealth Financial by 2,250.5% during the second 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 bought a new stake in shares of First Commonwealth Financial in the 4th quarter valued at about $51,000. TD Private Client Wealth LLC lifted 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 valued at $61,000 after acquiring an additional 621 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of First Commonwealth Financial in the 3rd quarter valued at about $85,000. Finally, Smartleaf Asset Management LLC lifted 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 valued at $91,000 after acquiring an additional 1,950 shares during the last quarter. Institutional investors own 72.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.