Stephen Reid Purchases 10,000 Shares of First Commonwealth Financial Corporation (FCF) Stock

First Commonwealth Financial Corporation (NYSE:FCF) Director Stephen Reid bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average cost of $2.45 per share, with a total value of $24,500.00.

First Commonwealth Financial Corporation (FCF) opened at $13.78 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. First Commonwealth Financial Corporation has a 52-week low of $10.81 and a 52-week high of $14.76. The stock has a market capitalization of $1,340.00, a P/E ratio of 16.60 and a beta of 0.97.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its earnings results on Wednesday, October 25th. The bank reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. First Commonwealth Financial Corporation had a return on equity of 9.53% and a net margin of 21.96%. The company had revenue of $80.46 million for the quarter, compared to analyst estimates of $79.29 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. equities research analysts anticipate that First Commonwealth Financial Corporation will post 0.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.32%. First Commonwealth Financial Corporation’s dividend payout ratio is 43.24%.

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Several research firms have recently issued reports on FCF. Zacks Investment Research upgraded shares of First Commonwealth Financial Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, October 27th. FBR & Co reaffirmed a “neutral” rating and issued a $14.00 price target on shares of First Commonwealth Financial Corporation in a research note on Friday, October 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 target price on shares of First Commonwealth Financial Corporation in a research report on Wednesday, October 4th. BidaskClub cut shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank of Canada started coverage on shares of First Commonwealth Financial Corporation in a research note on Monday, July 17th. They issued an “outperform” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.96.

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its stake in shares of First Commonwealth Financial Corporation by 64.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 35,777 shares of the bank’s stock valued at $474,000 after buying an additional 13,982 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of First Commonwealth Financial Corporation in the 1st quarter worth $101,000. Envestnet Asset Management Inc. boosted its position in shares of First Commonwealth Financial Corporation by 15.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,532 shares of the bank’s stock worth $153,000 after purchasing an additional 1,564 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of First Commonwealth Financial Corporation by 1.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,330 shares of the bank’s stock worth $270,000 after purchasing an additional 260 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of First Commonwealth Financial Corporation by 65.2% in the 1st quarter. OppenheimerFunds Inc. now owns 17,070 shares of the bank’s stock worth $226,000 after purchasing an additional 6,739 shares during the last quarter. 63.14% of the stock is owned by hedge funds and other institutional investors.

First Commonwealth Financial Corporation Company Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Insider Buying and Selling by Quarter for First Commonwealth Financial Corporation (NYSE:FCF)

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