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

First Commonwealth Financial (NYSE:FCF) released its quarterly earnings data 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 firm had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. First Commonwealth Financial’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share.

First Commonwealth Financial Price Performance

Shares of FCF traded up $0.12 during midday trading on Friday, reaching $16.56. The stock had a trading volume of 127,647 shares, compared to its average volume of 510,239. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.10 and a beta of 0.83. The company’s 50-day moving average is $16.85 and its 200 day moving average is $15.31. First Commonwealth Financial has a 12-month low of $12.24 and a 12-month high of $19.01.

First Commonwealth Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 3.14%. First Commonwealth Financial’s payout ratio is 35.14%.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 2,919 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on FCF. StockNews.com cut shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price objective on 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. Royal Bank of Canada boosted their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Janney Montgomery Scott cut First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $16.00 to $19.00 in a report on Monday, July 29th. Finally, Piper Sandler cut their price objective on First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.30.

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.