James Reske Sells 1,518 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) CFO James Reske sold 1,518 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $15.55, for a total transaction of $23,604.90. Following the transaction, the chief financial officer directly owned 84,348 shares in the company, valued at $1,311,611.40. The trade was a 1.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

First Commonwealth Financial Stock Up 1.6%

FCF stock opened at $16.00 on Wednesday. The company has a 50 day moving average of $16.69 and a two-hundred day moving average of $16.45. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 11.59 and a beta of 0.86. First Commonwealth Financial Corporation has a 12-month low of $13.54 and a 12-month high of $19.96. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.17.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). First Commonwealth Financial had a net margin of 20.00% and a return on equity of 10.12%. The company had revenue of $135.98 million for the quarter, compared to analysts’ expectations of $136.30 million. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 7th. First Commonwealth Financial’s dividend payout ratio is presently 39.13%.

Analyst Upgrades and Downgrades

FCF has been the subject of a number of recent research reports. Wall Street Zen raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. DA Davidson lowered shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Zacks Research downgraded shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Institutional Trading of First Commonwealth Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of First Commonwealth Financial by 2,911.4% during the 1st quarter. US Bancorp DE now owns 2,379 shares of the bank’s stock worth $37,000 after buying an additional 2,300 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 worth $42,000 after acquiring an additional 2,498 shares during the last quarter. GAMMA Investing LLC boosted its holdings in First Commonwealth Financial by 109.6% during the second quarter. GAMMA Investing LLC now owns 4,438 shares of the bank’s stock valued at $72,000 after acquiring an additional 2,321 shares during the period. Smartleaf Asset Management LLC boosted its holdings in First Commonwealth Financial by 58.5% during the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after acquiring an additional 1,950 shares during the period. Finally, CWM LLC grew its position in shares of First Commonwealth Financial by 73.6% in the first quarter. CWM LLC now owns 7,932 shares of the bank’s stock valued at $123,000 after purchasing an additional 3,362 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.