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

Key Points

• James Reske, the CFO of First Commonwealth Financial, sold 2,190 shares of the company stock for a total of $37,208.10 on October 6th, resulting in a 2.49% decrease in his position.
• The bank reported $0.38 earnings per share for the last quarter, surpassing estimates, with a revenue of $131.33 million compared to expectations of $125.88 million.
• First Commonwealth Financial recently announced a quarterly dividend of $0.135 per share, translating to an annualized yield of 3.2% and a payout ratio of 41.54%.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James Reske sold 2,190 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $16.99, for a total value of $37,208.10. Following the completion of the transaction, the chief financial officer directly owned 85,866 shares of the company's stock, valued at approximately $1,458,863.34. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded down $0.17 during trading hours on Tuesday, hitting $16.84. The stock had a trading volume of 253,084 shares, compared to its average volume of 677,976. 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 quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $17.16 and a two-hundred day moving average of $16.22. The company has a market cap of $1.76 billion, a PE ratio of 12.95 and a beta of 0.82.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (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 prior year, the firm posted $0.37 EPS. On average, equities research analysts anticipate that First Commonwealth Financial Corporation will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.2%. First Commonwealth Financial's dividend payout ratio is presently 41.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCF. Squarepoint Ops LLC acquired a new stake in shares of First Commonwealth Financial in the fourth quarter valued at about $184,000. GAMMA Investing LLC boosted its stake in shares of First Commonwealth Financial by 1,385.9% in the first quarter. GAMMA Investing LLC now owns 32,898 shares of the bank's stock valued at $511,000 after buying an additional 30,684 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of First Commonwealth Financial in the first quarter valued at approximately $244,000. SG Americas Securities LLC acquired a new position in First Commonwealth Financial during the first quarter valued at approximately $484,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in 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 valued at $337,000 after purchasing an additional 2,088 shares in the last quarter. 72.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCF. Wall Street Zen upgraded First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Zacks Research lowered 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 research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.90.

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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