$97.39 Million in Sales Expected for First Commonwealth Financial Co. (NYSE:FCF) This Quarter

Equities research analysts forecast that First Commonwealth Financial Co. (NYSE:FCF) will report $97.39 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for First Commonwealth Financial’s earnings, with the lowest sales estimate coming in at $94.75 million and the highest estimate coming in at $98.72 million. First Commonwealth Financial posted sales of $94.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The company is expected to announce its next quarterly earnings results on Tuesday, January 25th.

According to Zacks, analysts expect that First Commonwealth Financial will report full-year sales of $386.09 million for the current fiscal year, with estimates ranging from $381.69 million to $388.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $389.38 million, with estimates ranging from $373.60 million to $402.42 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for First Commonwealth Financial.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Monday, October 25th. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. First Commonwealth Financial had a net margin of 32.22% and a return on equity of 11.87%. The company had revenue of $97.89 million for the quarter, compared to analyst estimates of $94.52 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share.

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of First Commonwealth Financial in a research note on Wednesday, July 28th. Royal Bank of Canada raised shares of First Commonwealth Financial from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $19.00 in a research note on Thursday, October 28th. Zacks Investment Research raised shares of First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday. B. Riley reduced their price objective on shares of First Commonwealth Financial from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, August 2nd. Finally, Boenning Scattergood reaffirmed a “neutral” rating on shares of First Commonwealth Financial in a research note on Thursday, October 28th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $17.13.

Hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in First Commonwealth Financial in the 1st quarter worth approximately $27,000. KBC Group NV purchased a new position in First Commonwealth Financial in the 3rd quarter worth approximately $28,000. Eaton Vance Management purchased a new position in First Commonwealth Financial in the 1st quarter worth approximately $33,000. Berman Capital Advisors LLC boosted its stake in shares of First Commonwealth Financial by 46.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 4,153 shares of the bank’s stock valued at $58,000 after purchasing an additional 1,309 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new stake in shares of First Commonwealth Financial in the 2nd quarter valued at $60,000. 68.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE FCF traded down $0.04 during midday trading on Thursday, hitting $16.12. The company’s stock had a trading volume of 228,100 shares, compared to its average volume of 452,638. The stock has a fifty day moving average price of $14.67 and a 200 day moving average price of $14.21. First Commonwealth Financial has a one year low of $9.64 and a one year high of $16.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.94 and a beta of 1.13.

The business also recently declared a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, November 4th. This represents a $0.46 dividend on an annualized basis and a yield of 2.85%. First Commonwealth Financial’s dividend payout ratio is presently 34.07%.

About First Commonwealth Financial

First Commonwealth Financial Corp. is a financial holding company, which engages in the provision of a diversified array of consumer and commercial banking services through its bank subsidiary, First Commonwealth Bank (FCB). It also offers trust and wealth management services and offer insurance products through FCB and its other operating subsidiaries.

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

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