Brokerages Expect First Commonwealth Financial Co. (NYSE:FCF) Will Post Earnings of $0.31 Per Share

Analysts expect that First Commonwealth Financial Co. (NYSE:FCF) will announce $0.31 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for First Commonwealth Financial’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.33. First Commonwealth Financial reported earnings per share of $0.24 in the same quarter last year, which suggests a positive year-over-year growth rate of 29.2%. The company is scheduled to report its next earnings report after the market closes on Tuesday, October 26th.

On average, analysts expect that First Commonwealth Financial will report full year earnings of $1.34 per share for the current financial year, with EPS estimates ranging from $1.30 to $1.38. For the next financial year, analysts anticipate that the company will post earnings of $1.24 per share, with EPS estimates ranging from $1.20 to $1.25. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow First Commonwealth Financial.

First Commonwealth Financial (NYSE:FCF) last posted its earnings results on Monday, July 26th. The bank reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $93.85 million. First Commonwealth Financial had a return on equity of 11.03% and a net margin of 28.58%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share.

Several equities analysts recently commented on FCF shares. Zacks Investment Research lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of First Commonwealth Financial in a research note on Wednesday, July 28th. Finally, B. Riley dropped their target price on First Commonwealth Financial from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.50.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new stake in shares of First Commonwealth Financial in the 1st quarter worth approximately $27,000. Eaton Vance Management acquired a new stake in First Commonwealth Financial in the 1st quarter valued at approximately $33,000. Berman Capital Advisors LLC increased its position in First Commonwealth Financial by 46.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 4,153 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,309 shares during the period. USA Financial Portformulas Corp acquired a new stake in First Commonwealth Financial in the 2nd quarter valued at approximately $60,000. Finally, Quantbot Technologies LP acquired a new stake in First Commonwealth Financial in the 1st quarter valued at approximately $88,000. 68.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FCF traded up $0.13 on Friday, hitting $14.14. The company had a trading volume of 1,583 shares, compared to its average volume of 462,959. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. First Commonwealth Financial has a 52-week low of $8.19 and a 52-week high of $15.69. The business has a 50 day moving average of $13.40 and a 200 day moving average of $14.03. The company has a market cap of $1.36 billion, a PE ratio of 11.77 and a beta of 1.14.

The company also recently announced a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Friday, August 6th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Thursday, August 5th. First Commonwealth Financial’s dividend payout ratio is presently 56.79%.

About First Commonwealth Financial

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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Earnings History and Estimates for First Commonwealth Financial (NYSE:FCF)

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