Key Points
- First Commonwealth Financial CFO James Reske sold 2,072 shares on July 6 at an average price of $20.50, totaling $42,476. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still directly owns 77,204 shares.
- The company recently reported quarterly EPS of $0.37, missing analyst expectations of $0.40, though revenue rose 12.9% year over year to $133.7 million. Analysts currently expect full-year EPS of 1.71.
- First Commonwealth Financial also raised its quarterly dividend to $0.14 per share, giving it an annualized yield of about 2.8%. Wall Street sentiment remains mixed but constructive, with a consensus rating of Moderate Buy and a price target of $20.33.
First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James Reske sold 2,072 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.50, for a total transaction of $42,476.00. Following the completion of the transaction, the chief financial officer directly owned 77,204 shares in the company, valued at $1,582,682. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
First Commonwealth Financial Price Performance
Shares of NYSE:FCF opened at $20.30 on Wednesday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 13.44 and a beta of 0.74. The firm has a fifty day moving average price of $19.20 and a 200 day moving average price of $18.25. First Commonwealth Financial Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $20.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93.
First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.32 earnings per share. The business's revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.
First Commonwealth Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.8%. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial's payout ratio is presently 37.09%.
Hedge Funds Weigh In On First Commonwealth Financial
Institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in shares of First Commonwealth Financial by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 20,253 shares of the bank's stock worth $341,000 after buying 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% in 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 during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of First Commonwealth Financial by 0.9% in the 4th quarter. Rafferty Asset Management LLC now owns 94,031 shares of the bank's stock valued at $1,585,000 after acquiring an additional 875 shares during the last quarter. Bill Few Associates Inc. grew its position in First Commonwealth Financial by 3.6% in the second quarter. Bill Few Associates Inc. now owns 26,167 shares of the bank's stock worth $532,000 after acquiring an additional 905 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in First Commonwealth Financial by 0.4% in the second 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 own 72.58% of the company's stock.
Wall Street Analysts Forecast Growth
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. According to data from MarketBeat, First Commonwealth Financial has an average rating of "Moderate Buy" and a consensus price target of $20.33.
Check Out Our Latest Stock Report on First Commonwealth Financial
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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