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

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

First Commonwealth Financial Price Performance

NYSE:FCF opened at $19.18 on Tuesday. First Commonwealth Financial Corporation has a 12-month low of $15.00 and a 12-month high of $19.37. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 12.70 and a beta of 0.75. The company’s 50-day moving average is $18.50 and its two-hundred day moving average is $17.75. 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 (NYSE:FCF) last announced its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. 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 issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 8th. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s payout ratio is currently 37.09%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds have recently made changes to their positions in FCF. UBS Group AG raised its holdings 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 during the period. SG Americas Securities LLC grew its position in First Commonwealth Financial by 146.5% in the fourth quarter. SG Americas Securities LLC now owns 97,976 shares of the bank’s stock valued at $1,652,000 after acquiring an additional 58,229 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of First Commonwealth Financial during the third quarter valued at approximately $1,160,000. Intech Investment Management LLC lifted its position in shares of First Commonwealth Financial by 147.1% during the fourth quarter. Intech Investment Management LLC now owns 239,641 shares of the bank’s stock worth $4,040,000 after purchasing an additional 142,645 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of First Commonwealth Financial by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank’s stock valued at $12,972,000 after purchasing an additional 111,586 shares during the period. Hedge funds and other institutional investors 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.