Key Points
- Chief Financial Officer James Reske sold 2,072 shares on April 6 under a pre-arranged Rule 10b5-1 plan at an average of $17.86, totaling about $37,006 and reducing his stake by 2.42% to 83,420 shares.
- First Commonwealth beat Q4 estimates with EPS of $0.43 (vs. $0.41) and revenue of $137.82M (up 14.2% YoY), and pays an annualized dividend of $0.54 for a 3.0% yield.
- The stock trades around $18.15 with a $1.85B market cap and a P/E of 12.43, and analysts have a consensus rating of "Moderate Buy" with an average target of $19.75.
First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James Reske sold 2,072 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $17.86, for a total value of $37,005.92. Following the completion of the sale, the chief financial officer directly owned 83,420 shares in the company, valued at approximately $1,489,881.20. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
First Commonwealth Financial Stock Up 0.0%
Shares of NYSE:FCF opened at $18.15 on Wednesday. The stock's 50-day moving average price is $17.75 and its two-hundred day moving average price is $17.05. 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 Corporation has a 12-month low of $13.77 and a 12-month high of $19.08. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 12.43 and a beta of 0.76.
First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The firm had revenue of $137.82 million for the quarter, compared to analyst estimates of $135.63 million. During the same period last year, the company earned $0.35 EPS. The firm's quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts forecast that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.
First Commonwealth Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, February 6th. First Commonwealth Financial's dividend payout ratio (DPR) is 36.99%.
Analyst Ratings Changes
A number of brokerages have weighed in on FCF. Keefe, Bruyette & Woods lifted their price target on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the company a "market perform" rating in a report on Thursday, January 29th. Raymond James Financial set a $20.00 price objective on First Commonwealth Financial and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Piper Sandler assumed coverage on First Commonwealth Financial in a research note on Wednesday, December 17th. They issued an "overweight" rating and a $21.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of First Commonwealth Financial in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.75.
Check Out Our Latest Research Report on FCF
Hedge Funds Weigh In On First Commonwealth Financial
Several hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC lifted its holdings in shares of First Commonwealth Financial by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank's stock valued at $341,000 after acquiring an additional 585 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of First Commonwealth Financial by 20.7% during the 4th quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank's stock valued at $61,000 after acquiring an additional 621 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in First Commonwealth Financial by 4.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the bank's stock worth $304,000 after acquiring an additional 802 shares in the last quarter. Rafferty Asset Management LLC lifted its position in First Commonwealth Financial by 0.9% during the 4th quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank's stock worth $1,585,000 after acquiring an additional 875 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in First Commonwealth Financial by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 300,680 shares of the bank's stock worth $4,880,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.
First Commonwealth Financial Company Profile
(
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.
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