Zacks: Analysts Expect First Commonwealth Financial (FCF) to Announce $0.26 EPS
Wall Street analysts expect that First Commonwealth Financial (NYSE:FCF) will post earnings per share of $0.26 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Commonwealth Financial’s earnings. First Commonwealth Financial posted earnings of $0.21 per share in the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The company is scheduled to issue its next earnings report on Tuesday, January 22nd.
According to Zacks, analysts expect that First Commonwealth Financial will report full year earnings of $1.02 per share for the current financial year, with EPS estimates ranging from $1.01 to $1.03. For the next financial year, analysts anticipate that the company will post earnings of $1.09 per share, with EPS estimates ranging from $1.08 to $1.11. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The business had revenue of $83.57 million during the quarter, compared to analysts’ expectations of $84.76 million. First Commonwealth Financial had a net margin of 22.65% and a return on equity of 11.00%. During the same quarter last year, the firm earned $0.22 earnings per share.
Shares of First Commonwealth Financial stock traded up $0.09 on Tuesday, reaching $14.01. The company’s stock had a trading volume of 814,300 shares, compared to its average volume of 530,226. The stock has a market capitalization of $1.38 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. First Commonwealth Financial has a 52-week low of $12.01 and a 52-week high of $17.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, November 1st. First Commonwealth Financial’s dividend payout ratio is presently 43.90%.
First Commonwealth Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, October 23rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Ray T. Charley purchased 4,000 shares of the stock in a transaction dated Monday, October 29th. The shares were purchased at an average cost of $12.90 per share, with a total value of $51,600.00. Following the completion of the purchase, the director now directly owns 280,041 shares of the company’s stock, valued at approximately $3,612,528.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.42% of the company’s stock.
Several large investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of First Commonwealth Financial in the third quarter worth approximately $600,000. Stevens Capital Management LP acquired a new position in First Commonwealth Financial during the third quarter worth $191,000. Ontario Teachers Pension Plan Board acquired a new position in First Commonwealth Financial during the third quarter worth $805,000. FMR LLC boosted its stake in First Commonwealth Financial by 0.3% during the third quarter. FMR LLC now owns 1,366,889 shares of the bank’s stock worth $22,062,000 after buying an additional 4,689 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in First Commonwealth Financial by 4.0% during the third quarter. BlackRock Inc. now owns 14,632,667 shares of the bank’s stock worth $236,172,000 after buying an additional 569,462 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, 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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