Michael Mccuen Buys 3,090 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen bought 3,090 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average price of $16.19 per share, for a total transaction of $50,027.10. Following the transaction, the executive vice president owned 62,111 shares in the company, valued at $1,005,577.09. This represents a 5.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

First Commonwealth Financial Trading Up 3.4%

Shares of FCF stock opened at $16.11 on Friday. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a 50 day simple moving average of $16.38 and a two-hundred day simple moving average of $16.45. The company has a market cap of $1.67 billion, a P/E ratio of 11.67 and a beta of 0.86.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $135.98 million for the quarter, compared to the consensus estimate of $136.30 million. First Commonwealth Financial had a return on equity of 10.12% and a net margin of 20.00%.During the same quarter in the previous year, the company posted $0.31 earnings per share. Research analysts forecast that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current year.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, November 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 39.13%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in First Commonwealth Financial during the 1st quarter valued at about $400,000. Voya Investment Management LLC raised its stake in shares of First Commonwealth Financial by 393.5% in the first quarter. Voya Investment Management LLC now owns 161,216 shares of the bank’s stock worth $2,505,000 after purchasing an additional 128,547 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of First Commonwealth Financial in the second quarter valued at approximately $411,000. EntryPoint Capital LLC purchased a new position in shares of First Commonwealth Financial during the first quarter valued at approximately $230,000. Finally, Nuveen LLC purchased a new position in shares of First Commonwealth Financial during the first quarter valued at approximately $5,077,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCF has been the subject of several research analyst reports. DA Davidson downgraded shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research lowered First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.