First Commonwealth Financial Co. (NYSE:FCF) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 59,086 shares of the bank’s stock after buying an additional 2,721 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of First Commonwealth Financial worth $912,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EMC Capital Management boosted its holdings in shares of First Commonwealth Financial by 7.0% in the 3rd quarter. EMC Capital Management now owns 12,300 shares of the bank’s stock valued at $150,000 after buying an additional 807 shares during the period. Swiss National Bank boosted its stake in First Commonwealth Financial by 0.8% during the 3rd quarter. Swiss National Bank now owns 226,200 shares of the bank’s stock valued at $2,762,000 after purchasing an additional 1,700 shares during the period. Teacher Retirement System of Texas boosted its stake in First Commonwealth Financial by 8.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 35,469 shares of the bank’s stock valued at $433,000 after purchasing an additional 2,878 shares during the period. Federated Hermes Inc. boosted its stake in First Commonwealth Financial by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 200,347 shares of the bank’s stock valued at $2,446,000 after purchasing an additional 3,207 shares during the period. Finally, Emerald Advisers LLC acquired a new position in First Commonwealth Financial during the 3rd quarter valued at about $49,000. 72.58% of the stock is owned by institutional investors and hedge funds.

First Commonwealth Financial Stock Up 2.2 %

FCF stock opened at $13.58 on Wednesday. First Commonwealth Financial Co. has a 52 week low of $11.16 and a 52 week high of $15.90. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.82 and a beta of 0.87. The firm’s 50-day moving average is $13.27 and its two-hundred day moving average is $13.60. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. First Commonwealth Financial had a net margin of 25.07% and a return on equity of 13.78%. The company had revenue of $168.55 million for the quarter, compared to the consensus estimate of $123.17 million. During the same period in the previous year, the firm earned $0.39 EPS. On average, analysts forecast that First Commonwealth Financial Co. will post 1.44 earnings per share for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.125 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.68%. First Commonwealth Financial’s payout ratio is currently 32.47%.

Analyst Ratings Changes

A number of research analysts have issued reports on FCF shares. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of First Commonwealth Financial in a research note on Tuesday, April 9th. Finally, Stephens dropped their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th.

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.