Insider Selling: First Commonwealth Financial (NYSE:FCF) CFO Sells $44,030.00 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $21.25, for a total value of $44,030.00. Following the completion of the sale, the chief financial officer owned 73,060 shares of the company’s stock, valued at approximately $1,552,525. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $21.39 on Monday. The business has a 50-day simple moving average of $21.00 and a 200 day simple moving average of $19.30. First Commonwealth Financial Corporation has a one year low of $15.00 and a one year high of $22.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 13.12 and a beta of 0.74.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $139.42 million for the quarter, compared to analyst estimates of $137.48 million. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%. On average, research analysts anticipate that First Commonwealth Financial Corporation will post 1.73 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.56 annualized dividend and a yield of 2.6%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 34.36%.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in shares of First Commonwealth Financial by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank’s stock valued at $341,000 after purchasing an additional 585 shares in the last quarter. TD Private Client Wealth LLC raised its position 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 acquiring an additional 621 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of 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 purchasing an additional 875 shares during the period. Bill Few Associates Inc. grew its stake 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 worth $532,000 after purchasing an additional 905 shares during the period. Finally, Penn Capital Management Company LLC boosted its holdings in shares of First Commonwealth Financial by 3.6% during the 2nd quarter. Penn Capital Management Company LLC now owns 28,189 shares of the bank’s stock valued at $573,000 after buying an additional 971 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCF. Royal Bank Of Canada upped their price objective on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research report on Friday, August 14th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.25.

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.