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 business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $21.85, for a total transaction of $45,273.20. Following the transaction, the chief financial officer owned 75,132 shares of the company’s stock, valued at approximately $1,641,634.20. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Price Performance

Shares of FCF opened at $21.51 on Friday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 13.20 and a beta of 0.75. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $22.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $20.35 and a two-hundred day moving average of $18.87.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.The business had revenue of $139.42 million for the quarter, compared to the consensus estimate of $137.48 million. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 7th. First Commonwealth Financial’s dividend payout ratio is currently 34.36%.

Institutional Trading of First Commonwealth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCF. Royal Bank of Canada raised its stake in shares of First Commonwealth Financial by 12.6% in the first quarter. Royal Bank of Canada now owns 188,826 shares of the bank’s stock worth $2,935,000 after purchasing an additional 21,108 shares during the last quarter. AQR Capital Management LLC increased its holdings in First Commonwealth Financial by 15.0% in the 1st quarter. AQR Capital Management LLC now owns 194,601 shares of the bank’s stock worth $3,024,000 after buying an additional 25,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in First Commonwealth Financial by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,483 shares of the bank’s stock worth $940,000 after buying an additional 2,952 shares during the period. Millennium Management LLC raised its position in First Commonwealth Financial by 700.8% during the 1st quarter. Millennium Management LLC now owns 384,829 shares of the bank’s stock worth $5,980,000 after buying an additional 336,775 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Commonwealth Financial by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,968 shares of the bank’s stock worth $3,776,000 after buying an additional 21,839 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Keefe, Bruyette & Woods increased 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 research report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada boosted their target price on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, First Commonwealth Financial currently has an average rating of “Moderate Buy” and an average price target of $24.25.

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.