First Commonwealth Financial (NYSE:FCF) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

First Commonwealth Financial (NYSE:FCF - Get Free Report) posted its quarterly earnings data on Tuesday. The bank reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05), Briefing.com reports. The business had revenue of $121.21 million during the quarter, compared to the consensus estimate of $119.47 million. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share.

First Commonwealth Financial Trading Down 0.4 %

Shares of NYSE FCF traded down $0.06 during midday trading on Wednesday, reaching $16.88. 673,124 shares of the stock were exchanged, compared to its average volume of 511,818. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50-day simple moving average of $16.85 and a two-hundred day simple moving average of $15.30. First Commonwealth Financial has a 12 month low of $12.05 and a 12 month high of $19.01.

First Commonwealth Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. First Commonwealth Financial's dividend payout ratio is 32.30%.

Analyst Upgrades and Downgrades

FCF has been the topic of several research reports. Royal Bank of Canada boosted their price target on First Commonwealth Financial from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Janney Montgomery Scott lowered First Commonwealth Financial from a "buy" rating to a "neutral" rating and upped their target price for the company from $16.00 to $19.00 in a research note on Monday, July 29th. StockNews.com cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a "market perform" rating in a report on Thursday, July 25th. Finally, Piper Sandler lifted their target price on shares of First Commonwealth Financial from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.50.

Insider Transactions at First Commonwealth Financial

In other news, EVP Michael P. Mccuen bought 2,919 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average price of $16.99 per share, with a total value of $49,593.81. Following the transaction, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.97% of the stock is owned by insiders.

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.