First Commonwealth Financial (NYSE:FCF) Shares Pass Above 200-Day Moving Average – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of First Commonwealth Financial Corporation (NYSE:FCF – Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.42 and traded as high as $18.50. First Commonwealth Financial shares last traded at $18.3250, with a volume of 968,182 shares.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their price objective on First Commonwealth Financial from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Commonwealth Financial in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.33.
Check Out Our Latest Research Report on FCF
First Commonwealth Financial Stock Performance
The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $17.95 and a 200-day moving average of $17.42. The stock has a market cap of $1.86 billion, a PE ratio of 12.14 and a beta of 0.75.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). First Commonwealth Financial had a return on equity of 10.56% and a net margin of 21.19%.The company had revenue of $133.70 million for the quarter, compared to analysts’ expectations of $134.32 million. During the same period in the prior year, the business earned $0.32 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that First Commonwealth Financial Corporation will post 1.71 EPS for the current year.
First Commonwealth Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be issued a dividend of $0.14 per share. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 8th. First Commonwealth Financial’s dividend payout ratio is 37.09%.
Insider Transactions at First Commonwealth Financial
In related news, CFO James R. Reske sold 2,072 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $18.52, for a total transaction of $38,373.44. Following the transaction, the chief financial officer owned 81,348 shares of the company’s stock, valued at $1,506,564.96. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Norman J. Montgomery sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $18.34, for a total value of $458,500.00. Following the transaction, the executive vice president directly owned 63,068 shares in the company, valued at approximately $1,156,667.12. This represents a 28.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 44,180 shares of company stock worth $808,454. Corporate insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On First Commonwealth Financial
Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in First Commonwealth Financial by 2,250.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,498 shares during the period. Smithfield Trust Co acquired a new stake in First Commonwealth Financial in the fourth quarter valued at about $51,000. TD Private Client Wealth LLC lifted its position in First Commonwealth Financial by 20.7% in the fourth quarter. TD Private Client Wealth LLC now owns 3,621 shares of the bank’s stock valued at $61,000 after purchasing an additional 621 shares during the period. iSAM Funds UK Ltd acquired a new stake in First Commonwealth Financial in the third quarter valued at about $85,000. Finally, Smartleaf Asset Management LLC lifted its position in 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 during the period. Institutional investors and hedge funds 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.