Brokerages expect First Commonwealth Financial (NYSE:FCF) to announce sales of $88.19 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for First Commonwealth Financial’s earnings, with the highest sales estimate coming in at $89.53 million and the lowest estimate coming in at $87.54 million. First Commonwealth Financial posted sales of $89.98 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2%. The company is scheduled to report its next earnings results on Tuesday, July 23rd.
According to Zacks, analysts expect that First Commonwealth Financial will report full year sales of $357.29 million for the current fiscal year, with estimates ranging from $354.15 million to $359.80 million. For the next financial year, analysts forecast that the business will post sales of $379.31 million, with estimates ranging from $370.74 million to $382.76 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The company had revenue of $84.80 million for the quarter, compared to the consensus estimate of $84.91 million. First Commonwealth Financial had a return on equity of 11.25% and a net margin of 27.84%. First Commonwealth Financial’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share.
FCF has been the subject of a number of analyst reports. Zacks Investment Research upgraded First Commonwealth Financial from a “hold” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research report on Friday, June 21st. Boenning Scattergood reiterated a “neutral” rating on shares of First Commonwealth Financial in a research report on Thursday, June 20th. Finally, ValuEngine lowered First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. First Commonwealth Financial presently has an average rating of “Hold” and an average target price of $16.20.
FCF traded up $0.35 during trading on Wednesday, reaching $13.47. 771,343 shares of the company were exchanged, compared to its average volume of 286,498. The firm has a market capitalization of $1.29 billion, a PE ratio of 12.25, a P/E/G ratio of 1.50 and a beta of 1.18. The business’s 50 day moving average price is $13.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.89 and a current ratio of 0.89. First Commonwealth Financial has a 52 week low of $11.33 and a 52 week high of $17.91.
A number of hedge funds have recently made changes to their positions in the business. Mason Street Advisors LLC boosted its position in First Commonwealth Financial by 2.6% during the 1st quarter. Mason Street Advisors LLC now owns 31,679 shares of the bank’s stock worth $399,000 after acquiring an additional 803 shares during the period. Piedmont Investment Advisors Inc. boosted its position in First Commonwealth Financial by 4.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 24,836 shares of the bank’s stock worth $313,000 after acquiring an additional 1,170 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of First Commonwealth Financial by 12.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,617 shares of the bank’s stock valued at $140,000 after buying an additional 1,292 shares during the period. Comerica Bank lifted its holdings in shares of First Commonwealth Financial by 1.4% in the first quarter. Comerica Bank now owns 97,882 shares of the bank’s stock valued at $1,308,000 after buying an additional 1,351 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of First Commonwealth Financial by 86.3% in the first quarter. Versant Capital Management Inc now owns 3,000 shares of the bank’s stock valued at $37,000 after buying an additional 1,390 shares during the period. Institutional investors own 66.57% of the company’s stock.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.
Featured Story: Cost of Equity For A Business, Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.