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

First Commonwealth Financial (NYSE:FCF) posted its quarterly earnings results on Tuesday. The bank reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Briefing.com reports. The business had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share.

First Commonwealth Financial Stock Up 0.4 %

Shares of FCF stock traded up $0.07 during trading on Wednesday, reaching $17.01. The company’s stock had a trading volume of 199,110 shares, compared to its average volume of 509,500. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.53 and a beta of 0.83. The stock’s 50-day moving average price is $16.84 and its 200 day moving average price is $15.29. First Commonwealth Financial has a 1-year low of $12.05 and a 1-year high of $19.01.

Insider Activity at First Commonwealth Financial

In other news, EVP Michael P. Mccuen purchased 2,919 shares of the stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the acquisition, the executive vice president now directly owns 57,623 shares of the company’s stock, valued at approximately $979,014.77. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.