First Commonwealth Financial (NYSE:FCF) Stock: Insider James Reske Sells 2,250 Shares

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 2,250 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $21.91, for a total value of $49,297.50. Following the completion of the transaction, the chief financial officer owned 68,738 shares of the company’s stock, valued at $1,506,049.58. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Commonwealth Financial Trading Down 0.9%

NYSE FCF opened at $20.89 on Friday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.36 and a beta of 0.72. First Commonwealth Financial Corporation has a one year low of $15.30 and a one year high of $22.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.91. The business’s fifty day moving average is $20.77 and its 200-day moving average is $19.52.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, October 27th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). First Commonwealth Financial had a net margin of 23.06% and a return on equity of 11.17%. The company had revenue of $143.34 million for the quarter, compared to the consensus estimate of $141.36 million. Equities research analysts predict that First Commonwealth Financial Corporation will post 1.74 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 6th. First Commonwealth Financial’s payout ratio is presently 33.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FCF shares. Piper Sandler reissued an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a report on Friday, July 31st. Royal Bank Of Canada upped their price objective on First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. DA Davidson set a $23.00 price objective on First Commonwealth Financial in a report on Thursday, October 29th. Finally, Weiss Ratings raised First Commonwealth Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, November 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Commonwealth Financial has an average rating of “Moderate Buy” and an average target price of $24.00.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of First Commonwealth Financial in the second quarter worth about $29,000. Public Employees Retirement System of Ohio bought a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $32,000. MCF Advisors LLC bought a new stake in shares of First Commonwealth Financial in the second quarter valued at approximately $32,000. HB Wealth Management LLC purchased a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at approximately $229,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of First Commonwealth Financial during the 1st quarter valued at approximately $198,000. 72.58% of the stock is currently owned by institutional investors.

About First Commonwealth Financial

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.