Insider Selling: First Commonwealth Financial (NYSE:FCF) EVP Sells $97,545.00 in Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen sold 5,250 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the transaction, the executive vice president directly owned 56,861 shares of the company’s stock, valued at $1,056,477.38. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $19.08 on Friday. The stock has a 50 day moving average price of $18.47 and a 200 day moving average price of $17.71. First Commonwealth Financial Corporation has a 52 week low of $15.00 and a 52 week high of $19.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.94 billion, a PE ratio of 12.63 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The company had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.32 million. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.9%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s payout ratio is currently 37.09%.

Institutional Trading of First Commonwealth Financial

Hedge funds have recently made changes to their positions in the business. UBS Group AG lifted its position in shares of First Commonwealth Financial by 103.0% in the fourth 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 last quarter. SG Americas Securities LLC lifted its position in shares of 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 buying an additional 58,229 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of First Commonwealth Financial in 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% in the fourth quarter. Intech Investment Management LLC now owns 239,641 shares of the bank’s stock valued at $4,040,000 after buying an additional 142,645 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 buying an additional 111,586 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.