First Commonwealth Financial (NYSE:FCF) Director Luke A. Latimer purchased 1,170 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average price of $12.76 per share, for a total transaction of $14,929.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
First Commonwealth Financial stock traded up $0.02 during mid-day trading on Friday, hitting $12.94. The company had a trading volume of 563,106 shares, compared to its average volume of 565,163. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. First Commonwealth Financial has a 12 month low of $12.01 and a 12 month high of $17.91. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07.
First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, October 23rd. The bank reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). First Commonwealth Financial had a return on equity of 11.00% and a net margin of 22.65%. The company had revenue of $83.57 million during the quarter, compared to the consensus estimate of $84.76 million. During the same period last year, the firm posted $0.22 earnings per share. On average, equities research analysts predict that First Commonwealth Financial will post 1.02 EPS for the current year.
First Commonwealth Financial announced that its board has approved a stock buyback program on Tuesday, October 23rd that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Friday, November 2nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, November 1st. First Commonwealth Financial’s dividend payout ratio (DPR) is 43.90%.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in First Commonwealth Financial by 2.4% in the third quarter. Vanguard Group Inc. now owns 10,401,264 shares of the bank’s stock worth $167,876,000 after acquiring an additional 240,823 shares in the last quarter. Legal & General Group Plc boosted its holdings in First Commonwealth Financial by 6.9% in the third quarter. Legal & General Group Plc now owns 237,651 shares of the bank’s stock worth $3,830,000 after acquiring an additional 15,311 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in First Commonwealth Financial by 3.9% in the third quarter. Waldron Private Wealth LLC now owns 1,497,836 shares of the bank’s stock worth $24,175,000 after acquiring an additional 56,799 shares in the last quarter. Nordea Investment Management AB boosted its holdings in First Commonwealth Financial by 26.4% in the third quarter. Nordea Investment Management AB now owns 272,301 shares of the bank’s stock worth $4,395,000 after acquiring an additional 56,850 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of First Commonwealth Financial by 0.9% in the third quarter. Teachers Advisors LLC now owns 935,809 shares of the bank’s stock worth $15,104,000 after purchasing an additional 8,032 shares during the last quarter. 69.44% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on FCF shares. Zacks Investment Research lowered First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. DA Davidson started coverage on First Commonwealth Financial in a research report on Thursday, August 23rd. They set a “neutral” rating and a $18.00 price target on the stock. Sandler O’Neill started coverage on First Commonwealth Financial in a research report on Thursday, August 30th. They set a “hold” rating and a $18.00 price target on the stock. Raymond James restated a “hold” rating on shares of First Commonwealth Financial in a research report on Friday, September 7th. Finally, Boenning Scattergood restated a “hold” rating and set a $14.00 price target on shares of First Commonwealth Financial in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.67.
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About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.
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