Analysts expect First Commonwealth Financial Co. (NYSE: FCF – Get a rating) to report earnings per share of $0.30 for the current fiscal quarter, Zacks reports. Four analysts provided earnings estimates for First Commonwealth Financial, with estimates ranging from $0.27 to $0.32. First Commonwealth Financial reported earnings of $0.41 per share in the same quarter last year, which would indicate a negative 26.8% year-over-year growth rate. The company is expected to release its next results before the market opens on Monday, January 1.
On average, analysts expect First Commonwealth Financial to report annual earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.25 to $1.36. For the next fiscal year, analysts expect the company to post earnings of $1.48 per share, with EPS estimates ranging from $1.39 to $1.56. Zacks Investment Research’s earnings per share averages are an average average based on a survey of sell-side analysts who track First Commonwealth Financial.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its quarterly earnings data on Tuesday, January 25. The bank reported earnings per share (EPS) of $0.37 for the quarter, beating Thomson Reuters consensus estimate of $0.33 by $0.04. First Commonwealth Financial had a net margin of 34.51% and a return on equity of 12.55%. The company posted revenue of $96.33 million for the quarter, versus a consensus estimate of $97.09 million. In the same quarter a year earlier, the company posted earnings per share of $0.27. The company’s revenue for the quarter increased by 2.3% compared to the same quarter last year.
FCF has been the subject of several research reports. Zacks Investment Research upgraded shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a price target of $18.00 on the stock in a Wednesday, January 5, report. DA Davidson rephrased a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 research report. StockNews.com began covering First Commonwealth Financial in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, B. Riley cut his target price on First Commonwealth Financial from $19.00 to $18.00 in a research report on Tuesday. Three research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock has a consensus buy rating and a consensus price target of $18.33.
Shares of FCF traded down $0.02 during the midday session on Thursday, reaching $14.53. 6,550 shares of the company were traded, against an average volume of 673,506. First Commonwealth Financial has a 1-year low of $12.36 and a 1-year high of $17.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.16. The company has a market capitalization of $1.37 billion, a PE ratio of 10.10 and a beta of 1.02. The company has a 50-day moving average of $15.80 and a 200-day moving average of $15.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 18. Shareholders of record on Friday, February 4 received a dividend of $0.115. The ex-dividend date was Thursday, February 3. This represents a dividend of $0.46 on an annualized basis and a yield of 3.17%. First Commonwealth Financial’s payout ratio is currently 31.72%.
A number of hedge funds have recently changed their FCF positions. Norges Bank bought a new position in First Commonwealth Financial in Q4 worth $15,828,000. Artemis Investment Management LLP bought a new position in First Commonwealth Financial in Q4 worth $7,274,000. Nordea Investment Management AB increased its stake in First Commonwealth Financial by 106.9% in the third quarter. Nordea Investment Management AB now owns 661,204 shares of the bank valued at $9,164,000 after buying an additional 341,651 shares last quarter. Assenagon Asset Management SA increased its holdings in First Commonwealth Financial by 542.6% in the 4th quarter. Assenagon Asset Management SA now owns 386,816 shares in the bank valued at $6,224,000 after purchasing an additional 326,622 shares last quarter. Finally, Goldman Sachs Group Inc. increased its stake in First Commonwealth Financial by 35.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,134,121 shares of the bank valued at $18,248,000 after buying an additional 295,171 shares last quarter. Institutional investors hold 67.70% of the company’s shares.
About First Commonwealth Financial (Get a rating)
First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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