First Commonwealth Financial (NYSE:FCF) Director Todd Brice Buys 1,000 Shares

First Commonwealth Financial Corporation (NYSE:FCF) Director Todd Brice acquired 1,000 shares of First Commonwealth Financial stock in a transaction that occurred on Tuesday, February 3rd. The stock was acquired at an average price of $18.23 per share, with a total value of $18,230.00. Following the completion of the purchase, the director directly owned 13,500 shares in the company, valued at $246,105. This represents a 8.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock traded up $0.31 during trading hours on Tuesday, reaching $18.58. The company had a trading volume of 1,078,208 shares, compared to its average volume of 685,317. The firm has a market cap of $1.93 billion, a PE ratio of 12.72 and a beta of 0.81. First Commonwealth Financial Corporation has a one year low of $13.54 and a one year high of $18.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.92. The business has a fifty day simple moving average of $17.16 and a 200 day simple moving average of $16.84.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $137.82 million for the quarter, compared to analysts’ expectations of $135.63 million. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, analysts anticipate that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial declared that its board has authorized a stock repurchase program on Monday, December 1st that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be paid a $0.135 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.54 annualized dividend and a yield of 2.9%. First Commonwealth Financial’s dividend payout ratio is currently 36.99%.

Institutional Investors Weigh In On First Commonwealth Financial

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of First Commonwealth Financial by 12.6% in the 1st quarter. Royal Bank of Canada now owns 188,826 shares of the bank’s stock worth $2,935,000 after buying an additional 21,108 shares during the last quarter. AQR Capital Management LLC lifted its stake in First Commonwealth Financial by 15.0% during the 1st quarter. AQR Capital Management LLC now owns 194,601 shares of the bank’s stock valued at $3,024,000 after acquiring an additional 25,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Commonwealth Financial by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,483 shares of the bank’s stock valued at $940,000 after purchasing an additional 2,952 shares during the period. Millennium Management LLC boosted its stake in shares of First Commonwealth Financial by 700.8% in the 1st quarter. Millennium Management LLC now owns 384,829 shares of the bank’s stock worth $5,980,000 after buying an additional 336,775 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of First Commonwealth Financial by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,968 shares of the bank’s stock valued at $3,776,000 after purchasing an additional 21,839 shares during the period. Institutional investors own 72.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FCF. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. DA Davidson lowered shares of First Commonwealth Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Raymond James Financial set a $20.00 price objective on First Commonwealth Financial and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Piper Sandler started coverage on First Commonwealth Financial in a research note on Wednesday, December 17th. They set an “overweight” rating and a $21.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their price target on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.