First Commonwealth Financial (NYSE:FCF) Releases Earnings Results, Misses Expectations By $0.05 EPS

First Commonwealth Financial (NYSE:FCFGet Free Report) released its earnings results on Tuesday. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Briefing.com reports. The company had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS.

First Commonwealth Financial Trading Down 1.2 %

NYSE:FCF traded down $0.21 on Thursday, hitting $16.67. The stock had a trading volume of 40,253 shares, compared to its average volume of 509,583. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 10.48 and a beta of 0.83. The company has a fifty day moving average price of $16.85 and a two-hundred day moving average price of $15.30. First Commonwealth Financial has a 1-year low of $12.05 and a 1-year high of $19.01.

First Commonwealth Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 3.12%. First Commonwealth Financial’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FCF shares. Royal Bank of Canada boosted their target price on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Janney Montgomery Scott lowered shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $16.00 to $19.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.

Check Out Our Latest Report on First Commonwealth Financial

Insider Buying and Selling at First Commonwealth Financial

In related news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.97% of the stock is currently owned by company insiders.

First Commonwealth Financial Company Profile

(Get Free Report)

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.

Featured Articles

Earnings History for First Commonwealth Financial (NYSE:FCF)

Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.