First Commonwealth Financial Co. to Post Q2 2024 Earnings of $0.35 Per Share, DA Davidson Forecasts (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of First Commonwealth Financial in a report released on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the bank will earn $0.35 per share for the quarter. The consensus estimate for First Commonwealth Financial’s current full-year earnings is $1.44 per share. DA Davidson also issued estimates for First Commonwealth Financial’s FY2024 earnings at $1.40 EPS.

First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $116.60 million for the quarter, compared to analyst estimates of $119.80 million. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS.

FCF has been the topic of a number of other research reports. Stephens lowered their price objective on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of First Commonwealth Financial in a report on Tuesday, April 9th. Finally, StockNews.com lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a report on Thursday.

First Commonwealth Financial Stock Performance

Shares of NYSE FCF opened at $13.54 on Friday. 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 firm has a market cap of $1.38 billion, a price-to-earnings ratio of 8.41 and a beta of 0.87. The business’s 50-day simple moving average is $13.28 and its 200-day simple moving average is $13.61. First Commonwealth Financial has a 52 week low of $11.16 and a 52 week high of $15.90.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $0.13 per share. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.52 annualized dividend and a yield of 3.84%. First Commonwealth Financial’s dividend payout ratio is presently 31.06%.

Institutional Trading of First Commonwealth Financial

Several hedge funds have recently added to or reduced their stakes in FCF. Mariner LLC bought a new stake in First Commonwealth Financial during the 3rd quarter valued at approximately $32,855,000. Franklin Resources Inc. boosted its stake in First Commonwealth Financial by 155.0% during the 4th quarter. Franklin Resources Inc. now owns 2,697,502 shares of the bank’s stock valued at $41,649,000 after purchasing an additional 1,639,667 shares during the period. Waldron Private Wealth LLC boosted its stake in First Commonwealth Financial by 10,699.1% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,204,858 shares of the bank’s stock valued at $14,711,000 after purchasing an additional 1,193,701 shares during the period. Norges Bank bought a new stake in First Commonwealth Financial during the 4th quarter valued at approximately $10,803,000. Finally, Brandywine Global Investment Management LLC boosted its stake in First Commonwealth Financial by 53.4% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 311,243 shares of the bank’s stock valued at $3,800,000 after purchasing an additional 108,283 shares during the period. Institutional investors own 72.58% 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.