Yahoo Finance Insider Buying: The First Commonwealth Financial Corporation (NYSE:FCF) President Just Bought 4.3% More Shares
Investors who take an interest in First Commonwealth Financial Corporation (NYSE:FCF) should definitely note that the President, Thomas Price, recently paid US$13.87 per share to buy US$183k worth of the stock. Although the purchase only increased their holding by 4.3%, it is still a solid purchase in our view.
Check out our latest analysis for First Commonwealth Financial
First Commonwealth Financial Insider Transactions Over The Last Year
In fact, the recent purchase by Thomas Price was the biggest purchase of First Commonwealth Financial shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is US$14.71. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for First Commonwealth Financial share holders is that an insider was buying at near the current price. Thomas Price was the only individual insider to buy shares in the last twelve months.
The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
First Commonwealth Financial is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 1.8% of First Commonwealth Financial shares, worth about US$25m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At First Commonwealth Financial Tell Us?
The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of First Commonwealth Financial we think they are probably pretty confident of a bright future. Of course, the future is what matters most. So if you are interested in First Commonwealth Financial, you should check out this free report on analyst forecasts for the company.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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