First Commonwealth Financial Corporation (FCF)
NYSE NYSE Primary 
XFRA 
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First Commonwealth Financial (FCF) Reports Q2 Earnings: What Key Metrics Have to Say
Although the revenue and EPS for First Commonwealth Financial (FCF) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
First Commonwealth Financial (FCF) Q2 Earnings and Revenues Surpass Estimates
First Commonwealth Financial (FCF) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.42 per share a year ago.
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Charles Schwab Investment Management Inc. Acquires 23,924 Shares of First Commonwealth Financial Co. (NYSE:FCF)
Charles Schwab Investment Management Inc. increased its stake in shares of First Commonwealth Financial Co. (NYSE:FCF – Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,798,856 shares of the bank’s stock after acquiring an additional 23,924 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.74% of First Commonwealth Financial worth $43,214,000 at the end of the most recent quarter. Several other large investors also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its position in shares of First Commonwealth Financial by 8.0% during the fourth quarter. New York State Common Retirement Fund now owns 43,797 shares of the bank’s stock valued at $676,000 after buying an additional 3,261 shares during the last quarter. Federated Hermes Inc. increased its position in shares of First Commonwealth Financial by 43.2% during the fourth quarter. Federated Hermes Inc. now owns 286,934 shares of the bank’s stock valued at $4,430,000 after acquiring an additional 86,587 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in First Commonwealth Financial by 63.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,394 shares of the bank’s stock worth $438,000 after acquiring an additional 11,040 shares during the period. Louisiana State Employees Retirement System purchased a new position in First Commonwealth Financial in the fourth quarter worth $789,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of First Commonwealth Financial by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,086 shares of the bank’s stock valued at $912,000 after purchasing an additional 2,721 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors and hedge funds. First Commonwealth Financial Stock Performance NYSE FCF opened at $14.24 on Monday. The company’s 50 day moving average is $13.43 and its 200-day moving average is $13.79. The firm has a market cap of $1.46 billion, a P/E ratio of 8.84 and a beta of 0.86. First Commonwealth Financial Co. has a 12-month low of $11.16 and a 12-month high of $15.90. 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 (NYSE:FCF – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The firm had revenue of $116.60 million during the quarter, compared to analyst estimates of $119.80 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year. First Commonwealth Financial Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $0.13 dividend. This is a positive change from First Commonwealth Financial’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is 32.30%. Wall Street Analyst Weigh In Several research firms recently weighed in on FCF. StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Friday. Stephens lowered their price target on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of First Commonwealth Financial in a report on Tuesday, April 9th. Read Our Latest Research Report on FCF First Commonwealth Financial Profile (Free Report) 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.
