First Commonwealth Financial (NYSE:FCF) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

First Commonwealth Financial (NYSE:FCF) issued its earnings results on Tuesday. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01), Zacks reports. First Commonwealth Financial had a return on equity of 10.79% and a net margin of 22.62%. The company had revenue of $143.34 million for the quarter, compared to analysts’ expectations of $141.36 million.

First Commonwealth Financial Stock Performance

NYSE FCF traded up $0.10 on Thursday, hitting $20.93. The stock had a trading volume of 181,811 shares, compared to its average volume of 828,055. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $20.74 and its two-hundred day moving average is $19.39. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 12.85 and a beta of 0.76. First Commonwealth Financial has a one year low of $15.00 and a one year high of $22.34.

First Commonwealth Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $0.14 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a yield of 2.7%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 34.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on First Commonwealth Financial from $21.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $24.00 target price on shares of First Commonwealth Financial in a report on Friday, July 31st. DA Davidson set a $23.00 target price on shares of First Commonwealth Financial in a report on Thursday. Royal Bank Of Canada upped their target price on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 target price (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Buying and Selling at First Commonwealth Financial

In related news, CFO James Reske sold 2,072 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $20.52, for a total value of $42,517.44. Following the completion of the sale, the chief financial officer owned 70,988 shares of the company’s stock, valued at $1,456,673.76. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,216 shares of company stock worth $131,821 in the last quarter. 1.90% of the stock is owned by insiders.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.