Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. First Commonwealth Financial Corp. shares valued at $116,841 were sold by KARRIP BRIAN G on Feb 26 ’24. At $13.09 per share, KARRIP BRIAN G sold 8,926 shares. The insider’s holdings dropped to 52,036 shares worth approximately $0.69 million following the completion of this transaction.
Also, Riggle Carrie L sold 7,563 shares, netting a total of over 99,907 in proceeds. Following the sale of shares at $13.21 each, the insider now holds 46,309 shares.
Before that, CHARLEY RAY T had sold 875 shares from its account. In a trade valued at $10,518, the Director traded First Commonwealth Financial Corp. shares for $12.02 each. Upon closing the transaction, the insider’s holdings decreased to 875 shares, worth approximately $4.38 million.
As published in a research note from Stephens on May 19, 2023, First Commonwealth Financial Corp. [FCF] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $14. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late February. As of September 29, 2022, Janney has initiated its “Buy” rating for FCF. Earlier on August 03, 2022, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for FCF stock which previously was a “an Overweight”.
Analyzing FCF Stock Performance
During the last five days, there has been a drop of approximately -3.33%. Over the course of the year, First Commonwealth Financial Corp. shares have dropped approximately -13.60%. Shares of the company reached a 52-week high of $15.75 on 01/02/24 and a 52-week low of $12.75 on 03/01/24. A 50-day SMA is recorded $13.51, while a 200-day SMA reached $13.42. Nevertheless, trading volume fell to 0.54 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for First Commonwealth Financial Corp. (FCF)
According to the 24-hour chart, there is a support level at 13.21, which, if violated, would cause prices to drop to 13.08. In the upper region, resistance lies at 13.54. The next price resistance is at 13.75. RSI (Relative Strength Index) is 47.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 61.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is First Commonwealth Financial Corp. subject to short interest?
Stocks of First Commonwealth Financial Corp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 90000.0 shares to 1.19 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.1 million shares. A jump of 7.56% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.24.
