First Commonwealth Financial (NYSE:FCF) Director Buys $18,230.00 in Stock

Key Points

  • Director Todd Brice bought 1,000 shares at an average price of $18.23 (total $18,230), increasing his stake to 13,500 shares — an 8% rise disclosed in an SEC filing.
  • Q4 results beat expectations: the bank reported $0.43 EPS versus $0.41 expected and revenue of $137.8M (up 14.2% year‑over‑year).
  • The board authorized a $25.0 million share repurchase program (up to 1.5% of stock) and declared a quarterly dividend of $0.135 (annualized $0.54, ~2.9% yield).

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) Director Todd Brice bought 1,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average price of $18.23 per share, for a total transaction of $18,230.00. Following the purchase, the director directly owned 13,500 shares of the company's stock, valued at approximately $246,105. The trade was a 8.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Commonwealth Financial Stock Up 1.7%

Shares of FCF stock opened at $18.58 on Wednesday. First Commonwealth Financial Corporation has a twelve month low of $13.54 and a twelve month high of $18.68. The stock has a market cap of $1.93 billion, a P/E ratio of 12.72 and a beta of 0.81. The stock has a 50 day moving average of $17.20 and a 200 day moving average of $16.85. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The business had revenue of $137.82 million for the quarter, compared to analysts' expectations of $135.63 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The business's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. As a group, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.




First Commonwealth Financial declared that its Board of Directors has authorized a share repurchase program on Monday, December 1st that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the bank to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

First Commonwealth Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.54 dividend on an annualized basis and a yield of 2.9%. First Commonwealth Financial's payout ratio is presently 36.99%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FCF. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $19.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, January 29th. DA Davidson downgraded First Commonwealth Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 20th. Piper Sandler began coverage on First Commonwealth Financial in a research report on Wednesday, December 17th. They set an "overweight" rating and a $21.00 target price on the stock. Raymond James Financial set a $20.00 price target on shares of First Commonwealth Financial and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Four equities research 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 a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

View Our Latest Stock Analysis on FCF

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D boosted its position in First Commonwealth Financial by 9.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 138,260 shares of the bank's stock worth $2,331,000 after acquiring an additional 12,100 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in First Commonwealth Financial by 15.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,453 shares of the bank's stock worth $261,000 after purchasing an additional 2,051 shares in the last quarter. UBS Group AG lifted its stake in First Commonwealth Financial by 103.0% in the 4th quarter. UBS Group AG now owns 210,197 shares of the bank's stock worth $3,544,000 after purchasing an additional 106,654 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of First Commonwealth Financial by 21.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,283 shares of the bank's stock worth $696,000 after purchasing an additional 7,240 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Commonwealth Financial by 34.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,860 shares of the bank's stock valued at $1,060,000 after purchasing an additional 16,003 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

(Get Free Report)

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.

Further Reading

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