First Commonwealth Financial Co. to Post Q2 2024 Earnings of $0.35 Per Share, DA Davidson Forecasts (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF) – DA Davidson issued their Q2 2024 earnings per share estimates for First Commonwealth Financial in a report issued on Thursday, April 25th. DA Davidson analyst M. Navas expects that the bank will post earnings of $0.35 per share for the quarter. The consensus estimate for First Commonwealth Financial’s current full-year earnings is $1.44 per share. DA Davidson also issued estimates for First Commonwealth Financial’s FY2024 earnings at $1.40 EPS.

A number of other analysts also recently issued reports on the company. Stephens lowered their target price on First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. StockNews.com downgraded First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of First Commonwealth Financial in a research report on Tuesday, April 9th.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $13.54 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $13.28 and its 200-day moving average is $13.61. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 8.41 and a beta of 0.87. First Commonwealth Financial has a one year low of $11.16 and a one year high of $15.90.

First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $116.60 million for the quarter, compared to analyst estimates of $119.80 million. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share.

First Commonwealth Financial Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, May 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.84%. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.13. First Commonwealth Financial’s payout ratio is currently 31.06%.

Hedge Funds Weigh In On First Commonwealth Financial

A number of institutional investors have recently bought and sold shares of the business. EMC Capital Management increased its position in First Commonwealth Financial by 7.0% during the third quarter. EMC Capital Management now owns 12,300 shares of the bank’s stock worth $150,000 after buying an additional 807 shares during the last quarter. Swiss National Bank increased its position in First Commonwealth Financial by 0.8% during the third quarter. Swiss National Bank now owns 226,200 shares of the bank’s stock worth $2,762,000 after buying an additional 1,700 shares during the last quarter. Tower Research Capital LLC TRC increased its position in First Commonwealth Financial by 50.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the bank’s stock worth $103,000 after buying an additional 2,236 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in First Commonwealth Financial by 4.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,086 shares of the bank’s stock worth $912,000 after buying an additional 2,721 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in First Commonwealth Financial by 8.8% during the third quarter. Teacher Retirement System of Texas now owns 35,469 shares of the bank’s stock worth $433,000 after buying an additional 2,878 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

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.