Ray T. Charley Buys 4,000 Shares of First Commonwealth Financial (FCF) Stock

First Commonwealth Financial (NYSE:FCF) Director Ray T. Charley acquired 4,000 shares of the business’s stock in a transaction on Monday, October 29th. The shares were bought at an average price of $12.90 per share, with a total value of $51,600.00. Following the completion of the transaction, the director now directly owns 280,041 shares of the company’s stock, valued at $3,612,528.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of NYSE:FCF opened at $13.50 on Thursday. The company has a market capitalization of $1.37 billion, a P/E ratio of 13.27, a PEG ratio of 1.66 and a beta of 1.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. First Commonwealth Financial has a 1 year low of $12.01 and a 1 year high of $17.91.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The firm had revenue of $83.57 million during the quarter, compared to the consensus estimate of $84.76 million. First Commonwealth Financial had a net margin of 22.65% and a return on equity of 11.00%. During the same period last year, the business earned $0.22 earnings per share. As a group, equities analysts predict that First Commonwealth Financial will post 1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.36 dividend on an annualized basis and a yield of 2.67%. First Commonwealth Financial’s dividend payout ratio (DPR) is 43.90%.

First Commonwealth Financial declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 23rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Several brokerages have recently commented on FCF. ValuEngine cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Sandler O’Neill began coverage on shares of First Commonwealth Financial in a report on Thursday, August 30th. They set a “hold” rating and a $18.00 target price on the stock. DA Davidson began coverage on shares of First Commonwealth Financial in a report on Thursday, August 23rd. They set a “neutral” rating and a $18.00 target price on the stock. Zacks Investment Research cut shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Finally, Boenning Scattergood reaffirmed a “hold” rating and set a $14.00 target price on shares of First Commonwealth Financial in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.67.

A number of large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in First Commonwealth Financial by 4.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 102,891 shares of the bank’s stock valued at $1,661,000 after acquiring an additional 4,146 shares during the last quarter. V Wealth Management LLC bought a new position in First Commonwealth Financial in the third quarter valued at approximately $235,000. Alps Advisors Inc. bought a new position in First Commonwealth Financial in the third quarter valued at approximately $479,000. First Trust Advisors LP increased its stake in First Commonwealth Financial by 47.0% in the third quarter. First Trust Advisors LP now owns 132,243 shares of the bank’s stock valued at $2,134,000 after acquiring an additional 42,279 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in First Commonwealth Financial in the third quarter valued at approximately $278,000. 68.70% of the stock is currently owned by institutional investors and hedge funds.

About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.

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