First Commonwealth Financial Co. (NYSE:FCF) EVP Buys $49,593.81 in Stock

First Commonwealth Financial Co. (NYSE:FCF) EVP Michael P. Mccuen purchased 2,919 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $16.99 per share, with a total value of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

First Commonwealth Financial Stock Performance

FCF stock traded down $0.18 during trading on Tuesday, hitting $16.82. 76,757 shares of the company traded hands, compared to its average volume of 515,021. First Commonwealth Financial Co. has a 1 year low of $11.16 and a 1 year high of $19.01. The company has a market cap of $1.72 billion, a PE ratio of 10.56 and a beta of 0.83. The stock’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $14.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The firm had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.34 million. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, equities analysts expect that First Commonwealth Financial Co. will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.09%. First Commonwealth Financial’s dividend payout ratio is currently 32.30%.

Institutional Trading of First Commonwealth Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its stake in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,633 shares during the period. Quest Partners LLC acquired a new stake in shares of First Commonwealth Financial in the second quarter valued at about $34,000. Innealta Capital LLC purchased a new stake in shares of First Commonwealth Financial during the second quarter worth about $51,000. Algert Global LLC acquired a new position in shares of First Commonwealth Financial during the 2nd quarter worth about $142,000. Finally, Entropy Technologies LP purchased a new position in First Commonwealth Financial in the 1st quarter valued at about $152,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on FCF. Piper Sandler increased their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and upped their target price for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.50.

First Commonwealth Financial Company Profile

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.