DA Davidson Comments on First Commonwealth Financial Co.’s Q2 2022 Earnings (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF – Get Rating) – Equities researchers at DA Davidson issued their Q2 2022 earnings estimates for First Commonwealth Financial in a report released on Thursday, April 28th. DA Davidson analyst R. Gunther expects that the bank will post earnings per share of $0.31 for the quarter. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for First Commonwealth Financial’s FY2022 earnings at $1.34 EPS.

First Commonwealth Financial (NYSE:FCF – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). First Commonwealth Financial had a net margin of 34.51% and a return on equity of 12.55%. The business had revenue of $92.15 million during the quarter, compared to analyst estimates of $93.91 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. First Commonwealth Financial’s revenue for the quarter was down 4.8% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, January 5th. StockNews.com initiated coverage on First Commonwealth Financial in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, B. Riley cut their target price on First Commonwealth Financial from $19.00 to $18.00 in a research note on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $18.33.

Shares of FCF opened at $13.92 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day simple moving average of $15.23 and a 200 day simple moving average of $15.64. First Commonwealth Financial has a 52-week low of $12.36 and a 52-week high of $17.63. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.60 and a beta of 1.02.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, May 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.12. First Commonwealth Financial’s dividend payout ratio is currently 31.72%.

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of First Commonwealth Financial during the 4th quarter worth approximately $27,000. KBC Group NV bought a new stake in shares of First Commonwealth Financial during the 3rd quarter worth approximately $28,000. UMB Bank N A MO bought a new stake in First Commonwealth Financial in the 4th quarter valued at $89,000. Captrust Financial Advisors raised its stake in First Commonwealth Financial by 16.5% in the 3rd quarter. Captrust Financial Advisors now owns 7,314 shares of the bank’s stock valued at $100,000 after acquiring an additional 1,034 shares during the period. Finally, Confluence Wealth Services Inc. bought a new stake in First Commonwealth Financial in the 4th quarter valued at $156,000. Institutional investors own 67.70% of the company’s stock.

First Commonwealth Financial Company Profile (Get Rating)

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.

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