Insider Selling: First Commonwealth Financial Corporation (NYSE:FCF) CFO Sells 2,190 Shares of Stock

Key Points

• First Commonwealth Financial CFO James R. Reske sold 2,190 shares of the company's stock at an average price of $16.66, totaling approximately $36,485, resulting in a 2.37% reduction in his ownership.
• The company recently reported quarterly earnings of $0.38 per share, exceeding analysts' estimates and generating revenue of $131.33 million, surpassing expectations of $125.88 million.
• First Commonwealth Financial announced a quarterly dividend of $0.135 per share, with a payout ratio of 41.54%, and a projected annual yield of 3.3% for investors.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James R. Reske sold 2,190 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $16.66, for a total value of $36,485.40. Following the sale, the chief financial officer directly owned 90,246 shares of the company's stock, valued at $1,503,498.36. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Commonwealth Financial Trading Down 1.6%

Shares of NYSE FCF traded down $0.26 during midday trading on Thursday, hitting $16.28. The stock had a trading volume of 497,619 shares, compared to its average volume of 709,967. The company's 50-day simple moving average is $16.28 and its 200 day simple moving average is $15.92. The firm has a market cap of $1.71 billion, a P/E ratio of 12.52 and a beta of 0.84. First Commonwealth Financial Corporation has a fifty-two week low of $13.54 and a fifty-two week high of $19.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%. The business had revenue of $131.33 million during the quarter, compared to analysts' expectations of $125.88 million. During the same period in the previous year, the firm earned $0.37 earnings per share. Research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.3%. First Commonwealth Financial's payout ratio is 41.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FCF shares. Wall Street Zen raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lowered their target price on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.90.

Institutional Investors Weigh In On First Commonwealth Financial

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of First Commonwealth Financial by 3.4% during the first quarter. Principal Financial Group Inc. now owns 576,222 shares of the bank's stock worth $8,954,000 after purchasing an additional 18,825 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of First Commonwealth Financial by 12.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,687 shares of the bank's stock worth $1,281,000 after purchasing an additional 8,828 shares during the period. SG Americas Securities LLC acquired a new stake in shares of First Commonwealth Financial during the first quarter worth $484,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Commonwealth Financial by 10.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,680 shares of the bank's stock worth $337,000 after purchasing an additional 2,088 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of First Commonwealth Financial by 46.6% during the fourth quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock worth $15,693,000 after purchasing an additional 295,011 shares during the period. 72.58% of the stock is 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.

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