First Commonwealth Financial (NYSE:FCF) Reports Quarterly Results


First Commonwealth Financial (NYSE: FCFGet a rating) released its quarterly earnings data on Tuesday. The bank reported earnings per share (EPS) of $0.29 for the quarter, missing analyst consensus estimates of $0.30 per ($0.01), MarketWatch Earnings reports. First Commonwealth Financial had a net margin of 34.51% and a return on equity of 12.55%. The company posted revenue of $92.15 million for the quarter, versus a consensus estimate of $93.91 million. During the same period of the previous year, the company achieved EPS of $0.41. The company’s revenue was down 4.8% year-over-year.

Shares of First Commonwealth Financial Action was trading down $0.20 on Tuesday, hitting $14.21. 6,638 shares of the company were traded, against an average volume of 588,205. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The company has a 50-day simple moving average of $15.39 and a 200-day simple moving average of $15.67. The company has a debt ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $1.34 billion, a P/E ratio of 9.94 and a beta of 1.02.

Several analysts have released reports on FCF shares. StockNews.com assumed coverage of First Commonwealth Financial in a Thursday, March 31 report. They set a “holding” rating for the company. DA Davidson reissued a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 report. Zacks Investment Research moved 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. Finally, B. Riley cut his price target on First Commonwealth Financial shares from $19.00 to $18.00 in a Tuesday, April 12 research note. Three research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.33.

Large investors have recently changed their stock holdings. Norges Bank bought a new stake in First Commonwealth Financial in Q4, valued at $15,828,000. Goldman Sachs Group Inc. increased its holdings of First Commonwealth Financial shares by 35.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,134,121 shares of the bank worth $18,248,000 after buying 295,171 additional shares in the last quarter. Renaissance Technologies LLC purchased a new stake in the shares of First Commonwealth Financial in the fourth quarter for a value of approximately $2,016,000. Invesco Ltd. increased its stake in First Commonwealth Financial by 28.1% during the fourth quarter. Invesco Ltd. now owns 531,288 shares of the bank valued at $8,548,000 after purchasing an additional 116,502 shares in the last quarter. Finally, Credit Suisse AG increased its holdings in First Commonwealth Financial by 72.8% during the fourth quarter. Credit Suisse AG now owns 130,163 shares of the bank valued at $2,094,000 after buying an additional 54,838 shares last quarter. Hedge funds and other institutional investors hold 67.70% of the company’s shares.

Profile of the Commonwealth’s First Financial Corporation (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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Earnings history for First Commonwealth Financial (NYSE:FCF)



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