MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $973,000 Holdings in First Commonwealth Financial Co. (NYSE:FCF)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Commonwealth Financial Co. (NYSE:FCF) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,531 shares of the bank’s stock after buying an additional 2,168 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of First Commonwealth Financial worth $973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its position in shares of First Commonwealth Financial by 5.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,402 shares of the bank’s stock valued at $227,000 after acquiring an additional 705 shares during the period. Sei Investments Co. lifted its stake in First Commonwealth Financial by 3.9% in the 4th quarter. Sei Investments Co. now owns 23,857 shares of the bank’s stock valued at $404,000 after purchasing an additional 895 shares during the last quarter. Aigen Investment Management LP grew its holdings in First Commonwealth Financial by 6.0% during the fourth quarter. Aigen Investment Management LP now owns 17,398 shares of the bank’s stock worth $294,000 after purchasing an additional 983 shares during the period. Bank of Montreal Can grew its holdings in First Commonwealth Financial by 6.2% during the fourth quarter. Bank of Montreal Can now owns 17,932 shares of the bank’s stock worth $303,000 after purchasing an additional 1,048 shares during the period. Finally, Cetera Investment Advisers increased its position in First Commonwealth Financial by 8.0% during the fourth quarter. Cetera Investment Advisers now owns 14,154 shares of the bank’s stock worth $239,000 after buying an additional 1,053 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCF has been the subject of several research analyst reports. 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 for the company in a report on Friday, May 2nd. DA Davidson reissued a “buy” rating and set a $21.00 price target on shares of First Commonwealth Financial in a report on Thursday, January 30th. Wall Street Zen lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 7th. Stephens reissued an “overweight” rating and set a $21.50 target price on shares of First Commonwealth Financial in a report on Wednesday, January 29th. Finally, Royal Bank of Canada decreased their price target on shares of First Commonwealth Financial from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.92.

First Commonwealth Financial Stock Performance

FCF opened at $15.43 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.93. First Commonwealth Financial Co. has a 52-week low of $12.71 and a 52-week high of $19.96. The firm has a market cap of $1.62 billion, a P/E ratio of 11.10 and a beta of 0.77. The business’s fifty day moving average is $15.27 and its 200-day moving average is $16.48.

First Commonwealth Financial (NYSE:FCF) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $118.51 million for the quarter, compared to the consensus estimate of $117.70 million. First Commonwealth Financial had a net margin of 20.38% and a return on equity of 10.36%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. Sell-side analysts expect that First Commonwealth Financial Co. will post 1.45 EPS for the current fiscal year.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.50%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 9th. First Commonwealth Financial’s dividend payout ratio (DPR) is 40.30%.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, Director Todd D. Brice acquired 7,000 shares of First Commonwealth Financial stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $16.09 per share, with a total value of $112,630.00. Following the completion of the purchase, the director now directly owns 10,500 shares of the company’s stock, valued at $168,945. This represents a 200.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.17% of the company’s stock.

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.