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

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,072 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.50, for a total value of $42,476.00. Following the completion of the sale, the chief financial officer directly owned 77,204 shares of the company’s stock, valued at approximately $1,582,682. The trade was a 2.61% decrease in their position. The transaction was disclosed in a legal 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 Stock Down 0.5%

FCF traded down $0.11 during trading on Tuesday, reaching $20.38. 214,399 shares of the stock were exchanged, compared to its average volume of 809,376. The stock has a market cap of $2.07 billion, a P/E ratio of 13.51 and a beta of 0.74. First Commonwealth Financial Corporation has a twelve month low of $15.00 and a twelve month high of $20.87. The stock’s 50 day moving average price is $19.16 and its two-hundred day moving average price is $18.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93.

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

First Commonwealth Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.7%. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.09%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCF. Royal Bank of Canada raised its position 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 valued at $2,935,000 after purchasing an additional 21,108 shares during the period. AQR Capital Management LLC grew its stake 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 valued at $3,024,000 after buying an additional 25,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $940,000 after acquiring an additional 2,952 shares during the period. Millennium Management LLC raised its holdings in First Commonwealth Financial by 700.8% in the 1st quarter. Millennium Management LLC now owns 384,829 shares of the bank’s stock valued at $5,980,000 after acquiring an additional 336,775 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in First Commonwealth Financial by 9.9% during the first 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 acquiring an additional 21,839 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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 issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.33.

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.