Key Points
- Norman Montgomery sold 25,000 shares of First Commonwealth (NYSE:FCF) on April 30 at an average price of $18.34 for $458,500, reducing his position by 28.39% to 63,068 shares (≈$1.16M).
- First Commonwealth missed Q expectations with EPS of $0.37 versus a $0.40 consensus and revenue of $133.7M (slightly below estimates), though revenue was up 12.9% year-over-year.
- The bank declared a quarterly dividend of $0.14 (annualized $0.56) with a 3.0% yield payable May 22 (ex-dividend May 8), and analysts hold a consensus "Moderate Buy" with a $20.33 target.
First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) Director Todd Brice purchased 1,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were acquired at an average price of $18.58 per share, with a total value of $18,580.00. Following the purchase, the director owned 14,500 shares of the company's stock, valued at approximately $269,410. This trade represents a 7.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
First Commonwealth Financial Stock Up 0.0%
Shares of FCF opened at $18.47 on Tuesday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 12.23 and a beta of 0.75. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. First Commonwealth Financial Corporation has a 12 month low of $15.00 and a 12 month high of $19.14. The company has a 50-day moving average price of $17.86 and a two-hundred day moving average price of $17.26.
First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The business had revenue of $133.70 million for the quarter, compared to the consensus estimate of $134.32 million. First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. Equities analysts predict that First Commonwealth Financial Corporation will post 1.71 EPS for the current fiscal year.
First Commonwealth Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. First Commonwealth Financial's dividend payout ratio (DPR) is 35.76%.
Institutional Trading of First Commonwealth Financial
A number of hedge funds and other institutional investors have recently modified their holdings of FCF. Wellington Management Group LLP acquired a new stake in shares of First Commonwealth Financial in the fourth quarter valued at approximately $15,685,000. Millennium Management LLC increased its holdings in shares of First Commonwealth Financial by 112.9% in the third quarter. Millennium Management LLC now owns 1,091,740 shares of the bank's stock valued at $18,614,000 after purchasing an additional 578,893 shares in the last quarter. State Street Corp increased its holdings in shares of First Commonwealth Financial by 4.7% in the fourth quarter. State Street Corp now owns 4,854,021 shares of the bank's stock valued at $81,839,000 after purchasing an additional 216,099 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in First Commonwealth Financial by 6.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank's stock worth $42,422,000 after acquiring an additional 162,079 shares during the period. Finally, Intech Investment Management LLC grew its holdings in First Commonwealth Financial by 147.1% during the 4th quarter. Intech Investment Management LLC now owns 239,641 shares of the bank's stock worth $4,040,000 after acquiring an additional 142,645 shares during the period. 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 analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a "market perform" rating in a report on Thursday, January 29th. Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.33.
Read Our Latest Research Report on FCF
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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