Key Points
- EVP Michael McCuen purchased 3,090 shares on November 21 at an average price of $16.19 for a total of $50,027.10, increasing his stake to 62,111 shares (a 5.24% rise).
- First Commonwealth missed Q3 estimates with EPS of $0.39 versus a $0.41 consensus and revenue of $135.98M versus $136.30M; the stock trades around $16.11, with a market cap of $1.67B and a P/E of 11.67.
- The company paid a quarterly dividend of $0.135 on November 21 (annualized $0.54), representing a 3.4% yield and a dividend payout ratio of 39.13%.
First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) EVP Michael Mccuen bought 3,090 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $16.19 per share, for a total transaction of $50,027.10. Following the purchase, the executive vice president owned 62,111 shares in the company, valued at $1,005,577.09. This trade represents a 5.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
First Commonwealth Financial Price Performance
Shares of NYSE:FCF traded up $0.53 during trading on Friday, reaching $16.11. The company had a trading volume of 642,419 shares, compared to its average volume of 672,349. The firm's fifty day moving average is $16.38 and its 200 day moving average is $16.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $1.67 billion, a PE ratio of 11.67 and a beta of 0.86. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $19.96.
First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, October 28th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $135.98 million for the quarter, compared to the consensus estimate of $136.30 million. First Commonwealth Financial had a return on equity of 10.12% and a net margin of 20.00%.During the same period in the previous year, the firm earned $0.31 EPS. On average, equities analysts forecast that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.
First Commonwealth Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.54 annualized dividend and a yield of 3.4%. First Commonwealth Financial's dividend payout ratio (DPR) is currently 39.13%.
Institutional Investors Weigh In On First Commonwealth Financial
A number of institutional investors have recently bought and sold shares of FCF. CIBC Bancorp USA Inc. acquired a new position in shares of First Commonwealth Financial in the 3rd quarter valued at about $190,000. Verition Fund Management LLC purchased a new position in First Commonwealth Financial during the third quarter valued at approximately $576,000. Qube Research & Technologies Ltd increased its stake in First Commonwealth Financial by 20.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 338,907 shares of the bank's stock valued at $5,778,000 after buying an additional 57,071 shares during the period. Millennium Management LLC lifted its position in First Commonwealth Financial by 112.9% in the 3rd quarter. Millennium Management LLC now owns 1,091,740 shares of the bank's stock worth $18,614,000 after buying an additional 578,893 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its stake in shares of First Commonwealth Financial by 22.9% during the 3rd quarter. Brevan Howard Capital Management LP now owns 38,021 shares of the bank's stock valued at $648,000 after buying an additional 7,086 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Zacks Research downgraded shares of First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Weiss Ratings reissued a "buy (b-)" rating on shares of First Commonwealth Financial in a research note on Wednesday, October 8th. Finally, DA Davidson lowered shares of First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.63.
Check Out Our Latest 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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