First Commonwealth Financial (NYSE:FCF) CFO James R. Reske Sells 2,190 Shares

Key Points

• CFO James Reske of First Commonwealth Financial sold 2,190 shares at an average price of $17.74, reducing his ownership by 2.43% to 88,056 shares.
• The company's stock price decreased by 1.7% to $17.46, with a market capitalization of $1.83 billion and a PE ratio of 13.43.
• First Commonwealth recently announced a quarterly dividend of $0.135, providing an annualized yield of 3.1%, with a payout ratio of 41.54%.

First Commonwealth Financial Corporation (NYSE:FCF - Get Free Report) CFO James R. Reske sold 2,190 shares of First Commonwealth Financial stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $17.74, for a total value of $38,850.60. Following the sale, the chief financial officer directly owned 88,056 shares of the company's stock, valued at $1,562,113.44. This trade represents a 2.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

First Commonwealth Financial Stock Performance

FCF stock traded down $0.09 during trading on Friday, hitting $17.58. The company had a trading volume of 376,441 shares, compared to its average volume of 461,271. The firm has a market cap of $1.84 billion, a PE ratio of 13.52 and a beta of 0.85. First Commonwealth Financial Corporation has a 1-year low of $13.54 and a 1-year high of $19.96. The firm has a 50-day moving average price of $17.01 and a 200-day moving average price of $16.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $131.33 million for the quarter, compared to analysts' expectations of $125.88 million. First Commonwealth Financial had a return on equity of 9.71% and a net margin of 18.94%.During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid 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 yield of 3.1%. First Commonwealth Financial's dividend payout ratio is presently 41.54%.

Hedge Funds Weigh In On First Commonwealth Financial

Large investors have recently modified their holdings of the stock. US Bancorp DE lifted its position in shares of First Commonwealth Financial by 2,911.4% during the first quarter. US Bancorp DE now owns 2,379 shares of the bank's stock worth $37,000 after purchasing an additional 2,300 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in First Commonwealth Financial by 2,250.5% in the second 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 lifted its holdings in First Commonwealth Financial by 109.6% in the second quarter. GAMMA Investing LLC now owns 4,438 shares of the bank's stock worth $72,000 after acquiring an additional 2,321 shares during the last quarter. CWM LLC lifted its holdings in First Commonwealth Financial by 73.6% in the first quarter. CWM LLC now owns 7,932 shares of the bank's stock worth $123,000 after acquiring an additional 3,362 shares during the last quarter. Finally, Choreo LLC bought a new position in First Commonwealth Financial in the first quarter worth about $156,000. Institutional investors own 72.58% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised First Commonwealth Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.