Key Points
- CFO James Reske sold 1,518 shares on November 7 at an average price of $15.55, trimming his ownership by 1.77% to 84,348 shares valued at roughly $1.31 million.
- First Commonwealth reported quarterly EPS of $0.39, missing the $0.41 consensus and posting $135.98 million in revenue; the bank had a 20.0% net margin and a 10.12% return on equity.
- The company declared a quarterly dividend of $0.135 (annualized $0.54), implying a 3.4% yield, with an ex-dividend/record date of November 7 and payment on November 21.
First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James Reske sold 1,518 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,311,611.40. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
First Commonwealth Financial Trading Down 0.0%
NYSE:FCF opened at $15.75 on Tuesday. The stock's 50-day moving average is $16.72 and its two-hundred day moving average is $16.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $1.65 billion, a PE ratio of 11.41 and a beta of 0.86. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96.
First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The bank reported $0.39 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 firm posted $0.31 earnings per share. As a group, equities research analysts forecast that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.
First Commonwealth Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.4%. First Commonwealth Financial's dividend payout ratio is 39.13%.
Institutional Trading of First Commonwealth Financial
A number of institutional investors and hedge funds have recently made changes to their positions in FCF. Muhlenkamp & Co. Inc. bought a new stake in shares of First Commonwealth Financial during the 3rd quarter worth about $173,000. GSA Capital Partners LLP lifted its holdings in First Commonwealth Financial by 11.7% in the 3rd quarter. GSA Capital Partners LLP now owns 17,356 shares of the bank's stock worth $296,000 after purchasing an additional 1,824 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in First Commonwealth Financial by 17.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 760,796 shares of the bank's stock worth $12,972,000 after purchasing an additional 111,586 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in First Commonwealth Financial by 3.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 126,160 shares of the bank's stock worth $2,151,000 after purchasing an additional 4,648 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in First Commonwealth Financial by 4.7% during the third quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the bank's stock valued at $304,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.
Analysts Set New Price Targets
FCF has been the subject of several recent research reports. Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. DA Davidson downgraded First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of First Commonwealth Financial in a report on Wednesday, October 8th. Finally, Zacks Research cut First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, First Commonwealth Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.63.
Check Out Our Latest Stock Report on First Commonwealth Financial
About First Commonwealth Financial
(
Get Free Report)
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.
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