Research Analysts Issue Forecasts for First Commonwealth Financial Co.’s Q2 2024 Earnings (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for First Commonwealth Financial in a research note issued on Thursday, April 25th. DA Davidson analyst M. Navas forecasts 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 $1.41 per share. DA Davidson also issued estimates for First Commonwealth Financial’s FY2024 earnings at $1.40 EPS.

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

First Commonwealth Financial Stock Down 0.1 %

Shares of NYSE FCF opened at $13.55 on Friday. The company has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $13.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92. First Commonwealth Financial has a 1 year low of $11.16 and a 1 year high of $15.90. The firm has a market cap of $1.38 billion, a PE ratio of 8.42 and a beta of 0.87.

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

First Commonwealth Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend 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 dividend yield of 3.84%. First Commonwealth Financial’s dividend payout ratio is 31.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Advisers LLC bought a new stake in First Commonwealth Financial in the third quarter worth approximately $49,000. International Assets Investment Management LLC acquired a new position in shares of First Commonwealth Financial during the 4th quarter valued at $74,000. Tower Research Capital LLC TRC boosted its stake 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 acquiring an additional 2,236 shares in the last quarter. Quantbot Technologies LP acquired a new stake in First Commonwealth Financial in the third quarter worth $90,000. Finally, EMC Capital Management increased its stake in First Commonwealth Financial by 7.0% in the third quarter. EMC Capital Management now owns 12,300 shares of the bank’s stock valued at $150,000 after purchasing an additional 807 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

About First Commonwealth Financial

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.