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

First Commonwealth Financial (NYSE:FCF) issued its quarterly earnings results on Tuesday. The bank reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05), Briefing.com reports. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. The firm had revenue of $121.21 million during the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter last year, the company posted $0.39 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year.

First Commonwealth Financial Stock Up 0.1 %

Shares of FCF stock traded up $0.02 during trading on Wednesday, reaching $16.96. The company’s stock had a trading volume of 180,554 shares, compared to its average volume of 509,435. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 10.52 and a beta of 0.83. First Commonwealth Financial has a one year low of $12.05 and a one year high of $19.01. The business has a fifty day moving average price of $16.84 and a 200-day moving average price of $15.29. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler raised 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 note on Thursday, July 25th. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Janney Montgomery Scott downgraded shares of First Commonwealth Financial from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $19.00 in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.50.

Insider Buying and Selling at First Commonwealth Financial

In other First Commonwealth Financial news, EVP Michael P. Mccuen bought 2,919 shares of First Commonwealth Financial stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $16.99 per share, with a total value of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares in the company, valued at $979,014.77. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.97% of the company’s stock.

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.