Insider Sale: First Commonwealth Financial Co. (NYSE: FCF) EVP sells 20,000 shares
First Commonwealth Financial Co. (NYSE: FCF) executive vice president Norman J. Montgomery sold 20,000 shares of the company in a transaction that took place on Tuesday, June 8. The shares were sold at an average price of $ 15.22 for a total trade of $ 304,400.00. After the sale is finalized, the Executive Vice President now directly owns 56,137 shares of the company, valued at approximately $ 854,405.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
The FCF traded at $ 0.22 in Wednesday’s session, reaching $ 15.05. 479,583 shares of the company were traded, for an average volume of 489,580. The company has a fifty-day moving average of $ 14.78. The company has a leverage ratio of 0.21, a current ratio of 0.90, and a quick ratio of 0.90. First Commonwealth Financial Co. has a fifty-two week low of $ 7.14 and a fifty-two week high of $ 15.69. The company has a market cap of $ 1.45 billion, a price-to-earnings ratio of 13.43 and a beta of 1.15.
First Commonwealth Financial (NYSE: FCF) last reported its results on Tuesday, April 27. The bank reported EPS of $ 0.41 for the quarter, beating analyst consensus estimates of $ 0.29 by $ 0.12. First Commonwealth Financial had a net margin of 27.23% and a return on equity of 10.56%. The company posted revenue of $ 96.80 million in the quarter, compared to analysts’ estimates of $ 95.98 million. In the same quarter of the previous year, the company made EPS of $ 0.05. The company’s quarterly revenue is up 11.3% from the same quarter last year. Equity research analysts predict that First Commonwealth Financial Co. will post earnings per share of 1.24 for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 21. Shareholders of record on Friday, May 7 received a dividend of $ 0.115. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $ 0.11. The ex-dividend date of this dividend was Thursday, May 6. This represents an annualized dividend of $ 0.46 and a dividend yield of 3.06%. First Commonwealth Financial’s payout ratio is 56.79%.
FCF has been the subject of several research reports. Zacks investment research downgraded First Commonwealth Financial shares from a “hold” rating to a “strong buy” rating and set a price target of $ 17.00 for the company in a report released on Friday April 30. Stephens launched a coverage of First Commonwealth Financial shares in a report on Tuesday, March 30. They issued an “overweight” rating and a price target of $ 16.50 for the company. Five analysts gave the stock a conservation rating, two gave the stock a buy rating, and one gave the stock a high buy rating. The company has an average rating of “Buy” and a consensus price target of $ 12.42.
Hedge funds have recently changed their positions in the company. Point72 Hong Kong Ltd acquired a new position in First Commonwealth Financial shares in the 1st quarter valued at $ 27,000. Eaton Vance Management acquired a new position in First Commonwealth Financial shares in the 1st quarter valued at $ 33,000. Berman Capital Advisors LLC increased its holdings of First Commonwealth Financial shares by 204.2% in the 1st quarter. Berman Capital Advisors LLC now owns 2,844 shares of the bank valued at $ 40,000 after purchasing an additional 1,909 shares during the period. Veriti Management LLC acquired a new position in shares of First Commonwealth Financial in the 4th quarter valued at $ 63,000. Finally, Quantbot Technologies LP purchased a new stake in First Commonwealth Financial in the 1st quarter valued at $ 88,000. 66.40% of the capital is held by institutional investors.
About First Commonwealth Financial
First Commonwealth Financial Corporation, a financial holding company, provides a variety of personal and business banking services to individuals and small and medium-sized businesses in the United States. Its consumer services include personal chequing accounts, interest-bearing chequing accounts, health savings and savings accounts, insured money market accounts, debit cards, investment certificates, fixed rate certificates of deposit. and variable, mortgages, secured installment loans and home loans, safes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machines (ABMs), as well as Internet banking services, mobile and telephone.
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