Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,157 shares of the bank’s stock after acquiring an additional 7,905 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.05% of First Commonwealth Financial worth $672,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in First Commonwealth Financial by 173.9% in the first quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the bank’s stock valued at $51,000 after buying an additional 2,594 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in First Commonwealth Financial by 14.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,758 shares of the bank’s stock valued at $80,000 after acquiring an additional 710 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in First Commonwealth Financial by 16.6% in the first quarter. Ameritas Investment Partners Inc. now owns 8,169 shares of the bank’s stock valued at $102,000 after acquiring an additional 1,164 shares in the last quarter. Captrust Financial Advisors boosted its stake in First Commonwealth Financial by 20.5% in the third quarter. Captrust Financial Advisors now owns 10,234 shares of the bank’s stock valued at $131,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in First Commonwealth Financial in the second quarter valued at $136,000. Hedge funds and other institutional investors own 66.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on FCF shares. StockNews.com downgraded shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Royal Bank of Canada cut their price target on shares of First Commonwealth Financial from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, October 26th.
Get Our Latest Analysis on First Commonwealth Financial
First Commonwealth Financial Trading Up 0.1 %
NYSE FCF opened at $14.09 on Thursday. First Commonwealth Financial Co. has a 52-week low of $11.16 and a 52-week high of $16.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.44 billion, a P/E ratio of 9.52 and a beta of 0.92. The firm has a 50-day moving average price of $12.75 and a 200 day moving average price of $13.08.
First Commonwealth Financial (NYSE:FCF – Get Free Report) last released its earnings results on Tuesday, October 24th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). First Commonwealth Financial had a net margin of 25.57% and a return on equity of 13.85%. The business had revenue of $164.71 million during the quarter, compared to analyst estimates of $123.21 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. Equities research analysts expect that First Commonwealth Financial Co. will post 1.65 EPS for the current year.
First Commonwealth Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 3rd were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, November 2nd. First Commonwealth Financial’s dividend payout ratio is currently 33.78%.
Insider Activity at First Commonwealth Financial
In other news, EVP Carrie L. Riggle sold 7,563 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $13.21, for a total transaction of $99,907.23. Following the completion of the transaction, the executive vice president now directly owns 46,309 shares of the company’s stock, valued at $611,741.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by corporate insiders.
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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