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

First Commonwealth Financial (NYSE:FCF) announced its quarterly earnings results on Tuesday. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Briefing.com reports. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The company had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. During the same period last year, the firm earned $0.39 earnings per share. First Commonwealth Financial’s revenue for the quarter was down 1.1% on a year-over-year basis.

First Commonwealth Financial Stock Up 0.7 %

FCF traded up $0.12 on Friday, hitting $16.56. The company had a trading volume of 127,647 shares, compared to its average volume of 510,239. The stock has a fifty day simple moving average of $16.85 and a 200-day simple moving average of $15.31. 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 firm has a market capitalization of $1.70 billion, a P/E ratio of 11.10 and a beta of 0.83. First Commonwealth Financial has a 52-week low of $12.24 and a 52-week high of $19.01.

First Commonwealth Financial Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, EVP Michael P. Mccuen bought 2,919 shares of the stock in a transaction dated 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 purchase, the executive vice president now directly owns 57,623 shares in the company, valued at $979,014.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.97% of the company’s stock.

First Commonwealth Financial Company Profile

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.