Mirae Asset Global Investments Co. Ltd. Acquires 11,675 Shares of First Commonwealth Financial Co. (NYSE:FCF)

Mirae Asset Global Investments Co. Ltd. lifted its stake in First Commonwealth Financial Co. (NYSE:FCF) by 18.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,859 shares of the bank’s stock after purchasing an additional 11,675 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in First Commonwealth Financial were worth $1,256,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FCF. Franklin Resources Inc. grew its holdings in shares of First Commonwealth Financial by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock worth $58,601,000 after purchasing an additional 456,119 shares in the last quarter. Barclays PLC lifted its position in First Commonwealth Financial by 121.8% during the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock worth $3,631,000 after purchasing an additional 116,295 shares during the period. Charles Schwab Investment Management Inc. grew its stake in First Commonwealth Financial by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,782,837 shares of the bank’s stock worth $64,876,000 after buying an additional 105,116 shares in the last quarter. Jane Street Group LLC raised its position in shares of First Commonwealth Financial by 39.5% in the 3rd quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock valued at $2,583,000 after buying an additional 42,632 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in shares of First Commonwealth Financial during the 3rd quarter worth approximately $678,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

First Commonwealth Financial Stock Up 2.7 %

Shares of NYSE FCF opened at $16.93 on Wednesday. The company has a 50 day simple moving average of $17.03 and a 200 day simple moving average of $17.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.92. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.96. The firm has a market cap of $1.72 billion, a PE ratio of 12.18 and a beta of 0.87.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. On average, research analysts forecast that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.13 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.52 annualized dividend and a dividend yield of 3.07%. First Commonwealth Financial’s payout ratio is 37.41%.

Analyst Ratings Changes

FCF has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson restated a “buy” rating and set a $21.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens reiterated an “overweight” rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, First Commonwealth Financial currently has an average rating of “Hold” and an average price target of $19.58.

First Commonwealth Financial Company Profile

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.