Top Buys by Top Brass: CEO Price's $228.5K Bet on FCF

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $228.5K by T. Michael Price, CEO at First Commonwealth Financial Corp. (FCF).

START SLIDESHOW:
Click here to find out which other top insider buys by the ''top brass'' you need to know about »

Price bets big on FCF:
Purchased Insider Title Shares Price/Share Value
11/24/2014 T. Michael Price President & CEO 25,000 $9.14 $228,500.00

Price's average cost works out to $9.14/share. In trading on Tuesday, bargain hunters could buy shares of First Commonwealth Financial Corp. ( FCF) and achieve a cost basis lower than Price, with shares changing hands as low as $9.13 per share. Shares of First Commonwealth Financial Corp. were changing hands at $9.22 at last check, trading up about 0.7% on Tuesday. The chart below shows the one year performance of FCF shares, versus its 200 day moving average:

First Commonwealth Financial Corp.  Chart

Looking at the chart above, FCF's low point in its 52 week range is $7.70 per share, with $9.56 as the 52 week high point — that compares with a last trade of $9.22.

The current annualized dividend paid by First Commonwealth Financial Corp. is $0.28/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/06/2014. Below is a long-term dividend history chart for FCF, which can be of good help in judging whether the most recent dividend with approx. 3.1% annualized yield is likely to continue.

FCF+Dividend+History+Chart

FCF makes up 1.64% of the SPDR Russell 2000 Low Volatility ETF ( SMLV)

More from Stocks

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever