First Commonwealth Financial Co. (NYSE:FCF) EVP Purchases $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 dated Monday, September 23rd. The stock was purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

First Commonwealth Financial Price Performance

Shares of First Commonwealth Financial stock traded down $0.18 during trading on Tuesday, reaching $16.82. 76,757 shares of the stock traded hands, compared to its average volume of 515,021. 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 company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.56 and a beta of 0.83. First Commonwealth Financial Co. has a 52-week low of $11.16 and a 52-week high of $19.01. The business has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $14.66.

First Commonwealth Financial (NYSE:FCF) last announced 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 return on equity of 12.14% and a net margin of 23.39%. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts expect that First Commonwealth Financial Co. will post 1.44 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced 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. This represents a $0.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.30%.

Analysts Set New Price Targets

Several research analysts have commented 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 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 report on Monday, July 29th. Royal Bank of Canada raised their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.50.

Hedge Funds Weigh In On First Commonwealth Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in First Commonwealth Financial during the 4th quarter valued at $10,803,000. American Century Companies Inc. boosted its position in First Commonwealth Financial by 29.9% during the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after purchasing an additional 384,892 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First Commonwealth Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock valued at $96,503,000 after purchasing an additional 233,955 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of First Commonwealth Financial during the fourth quarter valued at about $1,066,000. Finally, First Commonwealth Financial Corp PA lifted its position in shares of First Commonwealth Financial by 6.9% during the first quarter. First Commonwealth Financial Corp PA now owns 960,725 shares of the bank’s stock valued at $13,373,000 after buying an additional 61,823 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.