First Commonwealth Financial (NYSE:FCF) Hits New 12-Month High – Here’s Why

Shares of First Commonwealth Financial Corporation (NYSE:FCF) reached a new 52-week high on Thursday . The company traded as high as $19.73 and last traded at $19.6950, with a volume of 471581 shares traded. The stock had previously closed at $19.53.

Analyst Upgrades and Downgrades

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

First Commonwealth Financial Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.99 billion, a PE ratio of 12.98 and a beta of 0.75. The firm has a 50 day moving average of $18.59 and a two-hundred day moving average of $17.80.

First Commonwealth Financial (NYSE:FCF) last issued its 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 business had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $134.32 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Research 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 2.9%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.14. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.09%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen sold 5,250 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $18.58, for a total transaction of $97,545.00. Following the sale, the executive vice president directly owned 56,861 shares in the company, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Norman J. Montgomery sold 12,964 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $18.37, for a total value of $238,148.68. Following the sale, the executive vice president owned 50,104 shares in the company, valued at approximately $920,410.48. This represents a 20.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,430 shares of company stock worth $908,796. Insiders own 1.90% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $73,796,000 after buying an additional 34,594 shares during the period. Franklin Resources Inc. lifted its holdings 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 valued at $67,238,000 after buying an additional 21,061 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of First Commonwealth Financial by 6.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank’s stock valued at $42,422,000 after buying an additional 162,079 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of First Commonwealth Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,467,460 shares of the bank’s stock valued at $41,607,000 after buying an additional 6,421 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

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.