Analysts expect First Commonwealth Financial (NYSE:FCF) to report sales of $91.07 million for the current quarter, Zacks reports. Four analysts have made estimates for First Commonwealth Financial’s earnings, with the highest sales estimate coming in at $92.81 million and the lowest estimate coming in at $89.38 million. First Commonwealth Financial posted sales of $83.57 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that First Commonwealth Financial will report full-year sales of $358.10 million for the current fiscal year, with estimates ranging from $354.15 million to $362.66 million. For the next financial year, analysts anticipate that the business will post sales of $378.83 million, with estimates ranging from $370.74 million to $383.07 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $89.03 million during the quarter, compared to analyst estimates of $88.15 million. First Commonwealth Financial had a return on equity of 10.49% and a net margin of 26.30%. During the same quarter in the prior year, the firm earned $0.33 earnings per share.
A number of research firms have recently weighed in on FCF. B. Riley set a $16.00 price objective on First Commonwealth Financial and gave the company a “buy” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of First Commonwealth Financial in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $16.20.
Several hedge funds have recently bought and sold shares of FCF. Versant Capital Management Inc raised its stake in First Commonwealth Financial by 86.3% during the 1st quarter. Versant Capital Management Inc now owns 3,000 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,390 shares during the period. Quantamental Technologies LLC increased its stake in First Commonwealth Financial by 175.1% in the 1st quarter. Quantamental Technologies LLC now owns 5,185 shares of the bank’s stock worth $65,000 after acquiring an additional 3,300 shares during the last quarter. NumerixS Investment Technologies Inc increased its stake in First Commonwealth Financial by 2,233.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,000 shares of the bank’s stock worth $88,000 after acquiring an additional 6,700 shares during the last quarter. Everence Capital Management Inc. bought a new stake in First Commonwealth Financial in the 1st quarter worth approximately $160,000. Finally, NEXT Financial Group Inc bought a new stake in First Commonwealth Financial in the 2nd quarter worth approximately $197,000. 66.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:FCF traded up $0.39 during trading on Friday, reaching $12.53. 258,700 shares of the company traded hands, compared to its average volume of 328,704. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.39 and a beta of 1.14. First Commonwealth Financial has a 52-week low of $11.33 and a 52-week high of $17.33. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $13.12 and its 200-day moving average is $13.28.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.19%. First Commonwealth Financial’s payout ratio is currently 36.36%.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.
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