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

First Commonwealth Financial Co. (NYSE:FCF) EVP Michael P. Mccuen bought 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at approximately $979,014.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

First Commonwealth Financial Price Performance

Shares of NYSE:FCF opened at $16.63 on Thursday. First Commonwealth Financial Co. has a one year low of $11.16 and a one year high of $19.01. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 10.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $16.80 and a 200 day simple moving average of $14.69.

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

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.52 annualized dividend and a dividend yield of 3.13%. First Commonwealth Financial’s dividend payout ratio is presently 32.30%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price target on shares of 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. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $16.00 to $19.00 in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their target price on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Hedge Funds Weigh In On First Commonwealth Financial

Large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its position in shares of First Commonwealth Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 89,097 shares of the bank’s stock valued at $1,240,000 after buying an additional 887 shares during the last quarter. Louisiana State Employees Retirement System grew its position in First Commonwealth Financial by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the bank’s stock valued at $708,000 after buying an additional 900 shares during the period. Inspire Investing LLC increased its stake in shares of First Commonwealth Financial by 4.0% during the 1st quarter. Inspire Investing LLC now owns 25,775 shares of the bank’s stock worth $359,000 after purchasing an additional 995 shares during the last quarter. ProShare Advisors LLC increased its position in First Commonwealth Financial by 6.3% in the first quarter. ProShare Advisors LLC now owns 20,434 shares of the bank’s stock worth $284,000 after buying an additional 1,217 shares during the last quarter. Finally, CWM LLC increased its holdings in First Commonwealth Financial by 451.1% in the 2nd quarter. CWM LLC now owns 1,995 shares of the bank’s stock worth $28,000 after acquiring an additional 1,633 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.

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.