First Commonwealth Financial Co. to Post Q3 2024 Earnings of $0.36 Per Share, DA Davidson Forecasts (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF) – Stock analysts at DA Davidson issued their Q3 2024 earnings per share estimates for shares of First Commonwealth Financial in a research note issued on Friday, July 26th. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $0.36 per share for the quarter. The consensus estimate for First Commonwealth Financial’s current full-year earnings is $1.40 per share. DA Davidson also issued estimates for First Commonwealth Financial’s FY2025 earnings at $1.55 EPS.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. First Commonwealth Financial had a return on equity of 12.14% and a net margin of 23.39%. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.34 million. During the same period last year, the company posted $0.42 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis.

A number of other analysts have also commented on FCF. Keefe, Bruyette & Woods boosted their target price on First Commonwealth Financial from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Janney Montgomery Scott downgraded First Commonwealth Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $19.00 in a research note on Monday. Piper Sandler lifted their price target on First Commonwealth Financial from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price target on First Commonwealth Financial from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.50.

First Commonwealth Financial Stock Performance

Shares of First Commonwealth Financial stock opened at $18.24 on Monday. First Commonwealth Financial has a one year low of $11.16 and a one year high of $19.01. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.33 and a beta of 0.85. The business has a 50-day simple moving average of $14.37 and a 200 day simple moving average of $13.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91.

First Commonwealth Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 2.85%. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 32.30%.

Hedge Funds Weigh In On First Commonwealth Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in shares of First Commonwealth Financial by 131.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 189,922 shares of the bank’s stock worth $2,644,000 after buying an additional 107,706 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of First Commonwealth Financial by 72.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,972 shares of the bank’s stock worth $1,294,000 after buying an additional 38,990 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of First Commonwealth Financial by 43.2% in the 4th quarter. Federated Hermes Inc. now owns 286,934 shares of the bank’s stock worth $4,430,000 after buying an additional 86,587 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of First Commonwealth Financial by 137.7% in the 1st quarter. BNP Paribas Financial Markets now owns 68,729 shares of the bank’s stock worth $957,000 after buying an additional 39,811 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of First Commonwealth Financial in the 4th quarter worth approximately $1,066,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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.