Michael Mccuen Sells 5,250 Shares of First Commonwealth Financial (NYSE:FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) EVP Michael Mccuen sold 5,250 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $18.58, for a total transaction of $97,545.00. Following the completion of the transaction, the executive vice president owned 56,861 shares in the company, valued at approximately $1,056,477.38. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

First Commonwealth Financial Stock Performance

FCF traded up $0.28 during midday trading on Thursday, reaching $18.91. The company had a trading volume of 560,657 shares, compared to its average volume of 817,345. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $1.92 billion, a PE ratio of 12.52 and a beta of 0.75. First Commonwealth Financial Corporation has a 12-month low of $15.00 and a 12-month high of $19.14. The business has a 50-day moving average price of $18.40 and a two-hundred day moving average price of $17.68.

First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $133.70 million during the quarter, compared to analysts’ expectations of $134.32 million. First Commonwealth Financial had a net margin of 21.19% and a return on equity of 10.56%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, sell-side analysts expect that First Commonwealth Financial Corporation will post 1.71 earnings per share for the current fiscal year.

First Commonwealth Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 8th. First Commonwealth Financial’s payout ratio is presently 37.09%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Hedge Funds Weigh In On First Commonwealth Financial

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of First Commonwealth Financial by 2,250.5% in the 2nd 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 in the last quarter. Smithfield Trust Co bought a new stake in First Commonwealth Financial during the 4th quarter worth approximately $51,000. TD Private Client Wealth LLC raised its position in shares of First Commonwealth Financial by 20.7% during the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after buying an additional 621 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in shares of First Commonwealth Financial in the third quarter valued at $85,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of First Commonwealth Financial by 58.5% in the third quarter. Smartleaf Asset Management LLC now owns 5,285 shares of the bank’s stock valued at $91,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

About First Commonwealth Financial

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.