Mirae Asset Global Investments Co. Ltd. Has $1.26 Million Stock Holdings in First Commonwealth Financial Co. (NYSE:FCF)

Mirae Asset Global Investments Co. Ltd. lifted its position in First Commonwealth Financial Co. (NYSE:FCF) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,859 shares of the bank’s stock after buying an additional 11,675 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of First Commonwealth Financial worth $1,256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of First Commonwealth Financial by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,435,002 shares of the bank’s stock valued at $58,601,000 after purchasing an additional 456,119 shares during the period. Barclays PLC boosted its holdings in shares of First Commonwealth Financial by 121.8% in the third quarter. Barclays PLC now owns 211,797 shares of the bank’s stock valued at $3,631,000 after buying an additional 116,295 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 acquiring an additional 105,116 shares in the last quarter. Jane Street Group LLC increased its position in shares of First Commonwealth Financial by 39.5% during the third quarter. Jane Street Group LLC now owns 150,590 shares of the bank’s stock worth $2,583,000 after acquiring an additional 42,632 shares in the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of First Commonwealth Financial during the third quarter worth $678,000. 72.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FCF. DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of First Commonwealth Financial in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 30th. Stephens reissued an “overweight” rating and issued a $21.50 target price on shares of First Commonwealth Financial in a research report on Wednesday, January 29th. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Commonwealth Financial from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.58.

First Commonwealth Financial Stock Performance

NYSE FCF opened at $16.93 on Wednesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 12.18 and a beta of 0.87. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $17.03 and its two-hundred day moving average price is $17.14. First Commonwealth Financial Co. has a 1 year low of $12.41 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF) last issued its 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%. As a group, research analysts anticipate that First Commonwealth Financial Co. will post 1.45 EPS for the current year.

First Commonwealth Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 3.07%. First Commonwealth Financial’s dividend payout ratio (DPR) is 37.41%.

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.