First Commonwealth Financial (NYSE:FCF) EVP Sells $97,545.00 in Stock

Key Points

  • Insider sale: First Commonwealth Financial EVP Michael Mccuen sold 5,250 shares at an average price of $18.58, totaling $97,545. After the transaction, he still owned 56,861 shares.
  • Recent performance and valuation: The stock was trading up 1.7% at $18.95, near its 52-week high of $19.14. The company has a market cap of $1.93 billion and a P/E ratio of 12.55.
  • Dividend and outlook: First Commonwealth recently paid a quarterly dividend of $0.14 per share, yielding 3.0% annually. Analysts currently have a Moderate Buy consensus with an average target price of $20.33.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) EVP Michael Mccuen sold 5,250 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total value of $97,545.00. Following the completion of the sale, the executive vice president directly owned 56,861 shares of the company's stock, valued at approximately $1,056,477.38. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Commonwealth Financial Trading Up 1.7%

NYSE FCF opened at $18.95 on Friday. First Commonwealth Financial Corporation has a 1-year low of $15.00 and a 1-year high of $19.14. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $18.43 and a 200-day moving average of $17.70. The firm has a market cap of $1.93 billion, a PE ratio of 12.55 and a beta of 0.75.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The company had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.32 million. During the same period last year, the firm posted $0.32 EPS. The company's revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.

First Commonwealth Financial Increases Dividend




The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.14 dividend. This is a boost from First Commonwealth Financial's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.0%. First Commonwealth Financial's dividend payout ratio is presently 37.09%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank's stock valued at $42,000 after purchasing an additional 2,498 shares during the period. Smithfield Trust Co purchased a new position in First Commonwealth Financial during the 4th quarter valued at about $51,000. TD Private Client Wealth LLC increased its holdings in 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 purchasing an additional 621 shares during the period. iSAM Funds UK Ltd purchased a new position in First Commonwealth Financial during the 3rd quarter valued at about $85,000. Finally, Smartleaf Asset Management LLC increased its holdings in First Commonwealth Financial by 58.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank's stock valued at $91,000 after purchasing an additional 1,950 shares during the period. Hedge funds and other institutional investors own 72.58% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "buy (b)" rating on shares of First Commonwealth Financial in a report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.33.

Get Our Latest Stock Analysis on First Commonwealth Financial

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.

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