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

First Commonwealth Financial (NYSE:FCF) released its earnings results on Tuesday. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01, Briefing.com reports. The company had revenue of $116.60 million for the quarter, compared to the consensus estimate of $119.80 million. First Commonwealth Financial had a return on equity of 13.78% and a net margin of 25.07%. First Commonwealth Financial’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share.

First Commonwealth Financial Price Performance

First Commonwealth Financial stock traded down $0.13 during mid-day trading on Wednesday, hitting $13.45. 26,561 shares of the company were exchanged, compared to its average volume of 510,653. The company has a market capitalization of $1.37 billion, a PE ratio of 8.73 and a beta of 0.87. First Commonwealth Financial has a 1-year low of $11.16 and a 1-year high of $15.90. The business has a fifty day moving average of $13.27 and a 200 day moving average of $13.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14.

First Commonwealth Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.13 dividend. The ex-dividend date is Thursday, May 2nd. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 3.87%. First Commonwealth Financial’s payout ratio is 32.47%.

Analysts Set New Price Targets

FCF has been the topic of a number of research analyst reports. StockNews.com raised shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. 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 note on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of First Commonwealth Financial in a research note on Tuesday, April 9th.

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.