First Commonwealth Financial Corporation (FCF) Expected to Post Quarterly Sales of $80.49 Million

Wall Street brokerages forecast that First Commonwealth Financial Corporation (NYSE:FCF) will post sales of $80.49 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for First Commonwealth Financial Corporation’s earnings. The lowest sales estimate is $80.06 million and the highest is $80.87 million. First Commonwealth Financial Corporation reported sales of $69.85 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that First Commonwealth Financial Corporation will report full year sales of $80.49 million for the current financial year, with estimates ranging from $307.86 million to $308.88 million. For the next financial year, analysts expect that the company will post sales of $331.55 million per share, with estimates ranging from $328.35 million to $337.23 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow First Commonwealth Financial Corporation.

First Commonwealth Financial Corporation (NYSE:FCF) last issued its earnings results on Wednesday, October 25th. The bank reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $80.46 million during the quarter, compared to the consensus estimate of $79.29 million. First Commonwealth Financial Corporation had a net margin of 21.96% and a return on equity of 9.53%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Canaccord Genuity cut their target price on shares of First Commonwealth Financial Corporation from C$4.25 to C$3.25 and set a “buy” rating on the stock in a research note on Wednesday, August 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a report on Friday, September 8th. BidaskClub lowered shares of First Commonwealth Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, FBR & Co reaffirmed a “neutral” rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. First Commonwealth Financial Corporation currently has an average rating of “Hold” and a consensus price target of $9.96.

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in shares of First Commonwealth Financial Corporation by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock worth $108,000 after acquiring an additional 846 shares in the last quarter. Quantbot Technologies LP acquired a new stake in First Commonwealth Financial Corporation in the second quarter valued at approximately $113,000. Algert Global LLC acquired a new stake in First Commonwealth Financial Corporation in the third quarter valued at approximately $141,000. Trexquant Investment LP lifted its stake in shares of First Commonwealth Financial Corporation by 25.8% in the second quarter. Trexquant Investment LP now owns 13,127 shares of the bank’s stock worth $166,000 after buying an additional 2,696 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of First Commonwealth Financial Corporation by 9.7% in the second quarter. Amalgamated Bank now owns 13,150 shares of the bank’s stock worth $167,000 after buying an additional 1,160 shares during the last quarter. 63.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Commonwealth Financial Corporation (NYSE FCF) traded up $0.04 on Friday, hitting $14.22. 403,199 shares of the company traded hands, compared to its average volume of 435,091. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1,385.87, a P/E ratio of 17.13 and a beta of 0.97. First Commonwealth Financial Corporation has a fifty-two week low of $11.80 and a fifty-two week high of $14.76.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were paid a $0.08 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.25%. First Commonwealth Financial Corporation’s dividend payout ratio is currently 43.24%.

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About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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Earnings History and Estimates for First Commonwealth Financial Corporation (NYSE:FCF)

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