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

First Commonwealth Financial (NYSE:FCF) released its quarterly earnings data on Tuesday. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01), Zacks reports. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%.

First Commonwealth Financial Price Performance

FCF stock traded down $0.24 during trading on Tuesday, reaching $20.95. The company’s stock had a trading volume of 696,828 shares, compared to its average volume of 830,744. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. First Commonwealth Financial has a 1 year low of $15.00 and a 1 year high of $22.34. The company’s fifty day moving average is $20.76 and its 200-day moving average is $19.35. The company has a market capitalization of $2.12 billion, a P/E ratio of 12.85 and a beta of 0.76.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $24.00 target price on shares of First Commonwealth Financial in a research report on Friday, July 31st. Royal Bank Of Canada raised their price target on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Friday, August 14th. DA Davidson assumed coverage on shares of First Commonwealth Financial in a report on Monday, September 28th. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Insider Activity

In other news, CFO James Reske sold 2,072 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $20.52, for a total value of $42,517.44. Following the transaction, the chief financial officer owned 70,988 shares of the company’s stock, valued at approximately $1,456,673.76. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,216 shares of company stock worth $131,821 in the last quarter. Company insiders own 1.90% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.