First Commonwealth Financial (NYSE:FCF) CFO Sells 2,072 Shares of Stock

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

First Commonwealth Financial Price Performance

Shares of First Commonwealth Financial stock traded up $0.23 during mid-day trading on Friday, reaching $21.39. 746,859 shares of the stock were exchanged, compared to its average volume of 803,416. First Commonwealth Financial Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $22.34. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 13.12 and a beta of 0.74. The firm has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $19.28. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08.

First Commonwealth Financial (NYSE:FCF – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $139.42 million for the quarter, compared to analysts’ expectations of $137.48 million. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%. On average, sell-side analysts predict that First Commonwealth Financial Corporation will post 1.73 EPS 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 issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 34.36%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Commonwealth Financial in a report on Friday, August 14th. Piper Sandler reissued 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 boosted their target price on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Royal Bank Of Canada upped 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. Finally, Raymond James Financial reissued an “outperform” rating and set a $24.00 price target on shares of First Commonwealth Financial in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, First Commonwealth Financial has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Check Out Our Latest Stock Analysis on First Commonwealth Financial

Institutional Trading of First Commonwealth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in First Commonwealth Financial by 4.7% during the 4th quarter. State Street Corp now owns 4,854,021 shares of the bank’s stock valued at $81,839,000 after purchasing an additional 216,099 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of First Commonwealth Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,376,999 shares of the bank’s stock worth $73,796,000 after buying an additional 34,594 shares during the period. Franklin Resources Inc. grew its position in shares of First Commonwealth Financial by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,943,604 shares of the bank’s stock worth $67,238,000 after buying an additional 21,061 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of First Commonwealth Financial by 6.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock worth $42,422,000 after buying an additional 162,079 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of First Commonwealth Financial by 2,542.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,478,715 shares of the bank’s stock valued at $50,392,000 after acquiring an additional 2,384,924 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

(Get Free Report)

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.

Should You Invest $1,000 in First Commonwealth Financial Right Now?

Before you consider First Commonwealth Financial, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and First Commonwealth Financial wasn’t on the list.

While First Commonwealth Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost) Everything You Need To Know About The EV Market Cover