New Age Alpha Advisors LLC Sells 28,109 Shares of First Commonwealth Financial Corporation (NYSE:FCF)

Key Points

• New Age Alpha Advisors LLC reduced its stake in First Commonwealth Financial by 19.4%, selling 28,109 shares, and now owns 0.11% of the company, valued at approximately $1.8 million.
• First Commonwealth Financial reported better-than-expected earnings for the last quarter, with an EPS of $0.38, surpassing analyst estimates of $0.34.
• The company announced a quarterly dividend of $0.135 per share, reflecting a 3.3% yield, with the payout ratio currently at 41.54%.

New Age Alpha Advisors LLC lowered its position in First Commonwealth Financial Corporation (NYSE:FCF - Free Report) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,022 shares of the bank's stock after selling 28,109 shares during the quarter. New Age Alpha Advisors LLC owned 0.11% of First Commonwealth Financial worth $1,819,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FCF. US Bancorp DE lifted its position in First Commonwealth Financial by 2,911.4% in the first quarter. US Bancorp DE now owns 2,379 shares of the bank's stock worth $37,000 after purchasing an additional 2,300 shares during the period. Sterling Capital Management LLC increased its stake in First Commonwealth Financial by 815.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,187 shares of the bank's stock valued at $54,000 after acquiring an additional 2,839 shares during the period. CWM LLC raised its position in First Commonwealth Financial by 73.6% in the first quarter. CWM LLC now owns 7,932 shares of the bank's stock worth $123,000 after purchasing an additional 3,362 shares in the last quarter. Aquatic Capital Management LLC lifted its stake in First Commonwealth Financial by 128.9% during the fourth quarter. Aquatic Capital Management LLC now owns 8,011 shares of the bank's stock worth $136,000 after purchasing an additional 4,511 shares during the period. Finally, Choreo LLC acquired a new stake in First Commonwealth Financial during the first quarter valued at approximately $156,000. Institutional investors and hedge funds own 72.58% of the company's stock.

First Commonwealth Financial Stock Down 0.9%

Shares of NYSE FCF opened at $16.55 on Thursday. First Commonwealth Financial Corporation has a 12-month low of $13.54 and a 12-month high of $19.96. The firm's 50-day simple moving average is $16.28 and its 200 day simple moving average is $15.92. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 12.73 and a beta of 0.84.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $131.33 million for the quarter, compared to analysts' expectations of $125.88 million. First Commonwealth Financial had a net margin of 18.94% and a return on equity of 9.71%. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, research analysts expect that First Commonwealth Financial Corporation will post 1.45 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, August 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.3%. First Commonwealth Financial's payout ratio is presently 41.54%.

Insider Buying and Selling at First Commonwealth Financial

In other news, Director Todd D. Brice purchased 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of $16.09 per share, for a total transaction of $112,630.00. Following the completion of the acquisition, the director directly owned 10,500 shares in the company, valued at approximately $168,945. The trade was a 200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada cut their target price on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reduced their target price on shares of First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of First Commonwealth Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, First Commonwealth Financial currently has an average rating of "Moderate Buy" and a consensus price target of $18.90.

About First Commonwealth Financial

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.

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