First Commonwealth Financial (NYSE:FCF) Sets New 52-Week High – Here’s What Happened

First Commonwealth Financial Co. (NYSE:FCF) reached a new 52-week high during trading on Monday . The stock traded as high as $19.85 and last traded at $19.75, with a volume of 23766 shares traded. The stock had previously closed at $19.21.

Analyst Ratings Changes

Several equities research analysts have weighed in on FCF shares. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Piper Sandler reduced their target price on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.30.

First Commonwealth Financial Stock Down 1.4 %

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average price is $17.39 and its 200 day moving average price is $15.94. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 12.93 and a beta of 0.83.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The firm had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts forecast that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, November 8th. First Commonwealth Financial’s dividend payout ratio is presently 35.14%.

Insider Activity

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of First Commonwealth Financial by 7.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 92,213 shares of the bank’s stock worth $1,281,000 after purchasing an additional 6,145 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in First Commonwealth Financial by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,117 shares of the bank’s stock valued at $656,000 after buying an additional 3,676 shares in the last quarter. EMC Capital Management raised its position in shares of First Commonwealth Financial by 28.6% in the first quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock worth $220,000 after acquiring an additional 3,523 shares during the period. Boston Partners boosted its stake in shares of First Commonwealth Financial by 67.9% during the 1st quarter. Boston Partners now owns 94,123 shares of the bank’s stock worth $1,310,000 after acquiring an additional 38,068 shares in the last quarter. Finally, Somerset Trust Co acquired a new stake in shares of First Commonwealth Financial during the 2nd quarter valued at about $248,000. 72.58% of the stock is owned by institutional investors and hedge funds.

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.