Insider Selling: First Commonwealth Financial (NYSE:FCF) CFO Sells 1,518 Shares of Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 1,518 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $15.55, for a total value of $23,604.90. Following the completion of the sale, the chief financial officer directly owned 84,348 shares in the company, valued at approximately $1,311,611.40. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

First Commonwealth Financial Stock Down 0.0%

Shares of NYSE:FCF traded down $0.01 during trading on Monday, reaching $15.75. 737,029 shares of the stock traded hands, compared to its average volume of 672,625. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94. First Commonwealth Financial Corporation has a 52-week low of $13.54 and a 52-week high of $19.96. The stock has a market cap of $1.65 billion, a P/E ratio of 11.41 and a beta of 0.86. The stock has a 50-day moving average of $16.76 and a two-hundred day moving average of $16.44.

First Commonwealth Financial (NYSE:FCF) last announced 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 company had revenue of $135.98 million for the quarter, compared to analysts’ expectations of $136.30 million. First Commonwealth Financial had a net margin of 20.00% and a return on equity of 10.12%. During the same period in the previous year, the business earned $0.31 EPS. As a group, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, November 7th. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 39.13%.

Analyst Ratings Changes

FCF has been the subject of several research analyst reports. Zacks Research cut First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Wall Street Zen raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCF. Amalgamated Bank raised its holdings in First Commonwealth Financial by 2.5% in the 2nd quarter. Amalgamated Bank now owns 29,654 shares of the bank’s stock valued at $481,000 after buying an additional 716 shares during the period. Bank of Montreal Can increased its stake in shares of First Commonwealth Financial by 3.4% during the second quarter. Bank of Montreal Can now owns 22,304 shares of the bank’s stock worth $362,000 after acquiring an additional 730 shares during the period. CWM LLC lifted its stake in shares of First Commonwealth Financial by 10.0% in the second quarter. CWM LLC now owns 8,724 shares of the bank’s stock valued at $142,000 after purchasing an additional 792 shares during the period. PNC Financial Services Group Inc. grew its stake in First Commonwealth Financial by 4.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the bank’s stock valued at $304,000 after acquiring an additional 802 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in First Commonwealth Financial by 0.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 121,512 shares of the bank’s stock worth $1,972,000 after purchasing an additional 907 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

About First Commonwealth Financial

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.