First Commonwealth Financial (NYSE:FCF) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

First Commonwealth Financial (NYSE:FCF) announced its quarterly earnings data on Tuesday. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01), Zacks reports. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%.

First Commonwealth Financial Price Performance

Shares of FCF stock traded down $0.24 during mid-day trading on Tuesday, reaching $20.95. The company’s stock had a trading volume of 696,828 shares, compared to its average volume of 830,744. The firm’s 50-day moving average is $20.76 and its two-hundred day moving average is $19.35. The company has a market cap of $2.12 billion, a P/E ratio of 12.85 and a beta of 0.76. First Commonwealth Financial has a 1-year low of $15.00 and a 1-year high of $22.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

Insider Buying and Selling at First Commonwealth Financial

In related news, CFO James Reske sold 2,072 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $20.52, for a total value of $42,517.44. Following the sale, the chief financial officer owned 70,988 shares of the company’s stock, valued at $1,456,673.76. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,216 shares of company stock worth $131,821. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FCF has been the subject of a number of research reports. Raymond James Financial reissued an “outperform” rating and issued a $24.00 price target on shares of First Commonwealth Financial in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of First Commonwealth Financial in a report on Friday, August 14th. Keefe, Bruyette & Woods upped their price objective on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. DA Davidson began coverage on shares of First Commonwealth Financial in a research report on Monday, September 28th. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.