First Commonwealth Financial (NYSE:FCF) Releases Quarterly Earnings Results

First Commonwealth Financial (NYSE:FCF) announced its earnings results on Tuesday. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01, Zacks reports. First Commonwealth Financial had a return on equity of 12.29% and a net margin of 23.39%. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.

First Commonwealth Financial Stock Up 7.5 %

NYSE:FCF traded up $1.30 during trading hours on Thursday, reaching $18.60. The company’s stock had a trading volume of 1,736,849 shares, compared to its average volume of 505,783. The company has a market capitalization of $1.90 billion, a P/E ratio of 11.75 and a beta of 0.85. First Commonwealth Financial has a 12 month low of $11.16 and a 12 month high of $19.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $14.03 and a two-hundred day moving average price of $13.76.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 2nd will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.30%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Piper Sandler lifted their price target on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.13.

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.