First Commonwealth Financial (NYSE:FCF – Get Free Report) announced its quarterly earnings results on Tuesday. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01), Zacks reports. The business had revenue of $143.34 million for the quarter, compared to the consensus estimate of $141.36 million.
First Commonwealth Financial Trading Down 1.2%
FCF opened at $20.95 on Wednesday. First Commonwealth Financial has a 52-week low of $15.00 and a 52-week high of $22.34. The firm’s 50 day moving average is $20.75 and its 200-day moving average is $19.37.
Insider Buying and Selling
In related news, CFO James Reske sold 2,072 shares of First Commonwealth Financial stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $20.52, for a total value of $42,517.44. Following the completion of the transaction, the chief financial officer directly owned 70,988 shares in the company, valued at approximately $1,456,673.76. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,216 shares of company stock worth $131,821. Corporate insiders own 1.90% of the company’s stock.
Trending Headlines about First Commonwealth Financial
Here are the key news stories impacting First Commonwealth Financial this week:
- Positive Sentiment: Third-quarter revenue was $143.34 million, exceeding the $141.36 million analyst consensus. Revenue also represented growth from the prior-year period, supporting the bank’s operating outlook. Earnings Flash: First Commonwealth Financial Q3 Revenue
- Positive Sentiment: FCF declared a quarterly dividend of $0.14 per share and authorized additional share repurchases. These actions may support the stock by returning capital to shareholders and signaling confidence in the company’s financial position. First Commonwealth Announces Third Quarter Earnings and Capital Returns
- Neutral Sentiment: Quarterly EPS increased to $0.45 from $0.39 a year earlier, but the result was $0.01 below the $0.46 consensus estimate. The earnings miss may limit the positive impact of the revenue beat. First Commonwealth Financial Lags Q3 Earnings Estimates
- Negative Sentiment: Investors continue to face concerns about regulatory fee caps and First Commonwealth’s commercial real estate exposure, both of which could pressure future profitability despite the quarter’s revenue performance. First Commonwealth’s Community Focus and Long-Term Growth
Wall Street Analysts Forecast Growth
FCF has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of First Commonwealth Financial in a research note on Friday, August 14th. Raymond James Financial restated an “outperform” rating and issued a $24.00 price objective on shares of First Commonwealth Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. DA Davidson assumed coverage on shares of First Commonwealth Financial in a research note on Monday, September 28th. They set a “neutral” rating and a $24.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up from $21.00) on shares of First Commonwealth Financial in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, First Commonwealth Financial has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.
Get Our Latest Stock Analysis on First Commonwealth Financial
First Commonwealth Financial Company Profile
First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.
Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.
First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.
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