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

First Commonwealth Financial (NYSE:FCF) issued its quarterly earnings data on Tuesday. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01, Briefing.com reports. The firm had revenue of $116.60 million during the quarter, compared to analyst estimates of $119.80 million. First Commonwealth Financial had a return on equity of 13.78% and a net margin of 25.07%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS.

First Commonwealth Financial Stock Performance

FCF traded down $0.16 during trading on Wednesday, hitting $13.42. 95,833 shares of the stock were exchanged, compared to its average volume of 511,453. 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 has a 1-year low of $11.16 and a 1-year high of $15.90. The stock has a fifty day moving average price of $13.27 and a two-hundred day moving average price of $13.60. The firm has a market capitalization of $1.37 billion, a P/E ratio of 8.73 and a beta of 0.87.

First Commonwealth Financial Increases Dividend

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

Analyst Upgrades and Downgrades

FCF has been the topic of several research reports. StockNews.com upgraded shares of First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of First Commonwealth Financial in a research note on Tuesday, April 9th. Finally, Stephens lowered their price objective 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.

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.