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

First Commonwealth Financial (NYSE:FCF) released its earnings results on Tuesday. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01, Briefing.com reports. The firm had revenue of $116.60 million during the quarter, compared to analyst estimates of $119.80 million. First Commonwealth Financial had a return on equity of 13.78% and a net margin of 25.07%. First Commonwealth Financial’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share.

First Commonwealth Financial Stock Performance

First Commonwealth Financial stock traded down $0.13 during trading hours on Wednesday, reaching $13.45. 100,131 shares of the stock were exchanged, compared to its average volume of 511,453. First Commonwealth Financial has a 52-week low of $11.16 and a 52-week high of $15.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50 day moving average is $13.27 and its 200 day moving average is $13.60. The stock has a market cap of $1.37 billion, a P/E ratio of 8.73 and a beta of 0.87.

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.87%. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, May 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.47%.

Analyst Upgrades and Downgrades

FCF has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of First Commonwealth Financial in a report on Tuesday, April 9th. Stephens reduced their price objective on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health 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.