First Commonwealth Financial (NYSE:FCF) Releases Earnings Results, Misses Estimates By $0.03 EPS

First Commonwealth Financial (NYSE:FCF) posted its quarterly earnings data on Tuesday. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03), Zacks reports. First Commonwealth Financial had a return on equity of 10.43% and a net margin of 20.88%.The company had revenue of $133.70 million for the quarter, compared to analyst estimates of $134.48 million. During the same quarter in the previous year, the firm posted $0.32 EPS. First Commonwealth Financial’s quarterly revenue was up 12.9% on a year-over-year basis.

First Commonwealth Financial Stock Up 0.1%

Shares of NYSE FCF traded up $0.01 during mid-day trading on Thursday, reaching $18.38. The company had a trading volume of 511,900 shares, compared to its average volume of 863,301. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.95. First Commonwealth Financial has a twelve month low of $15.00 and a twelve month high of $19.14. The stock’s 50 day moving average is $17.85 and its 200-day moving average is $17.24. The stock has a market capitalization of $1.88 billion, a PE ratio of 12.59 and a beta of 0.76.

First Commonwealth Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, May 8th. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 36.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FCF shares. Weiss Ratings restated a “buy (b-)” rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price target on First Commonwealth Financial from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Finally, Raymond James Financial set a $20.00 price objective on First Commonwealth Financial and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, First Commonwealth Financial presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Insider Transactions at First Commonwealth Financial

In other news, EVP Jane Grebenc sold 18,598 shares of First Commonwealth Financial stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $18.85, for a total transaction of $350,572.30. Following the completion of the sale, the executive vice president directly owned 158,975 shares in the company, valued at $2,996,678.75. The trade was a 10.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James R. Reske sold 2,072 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.86, for a total value of $37,005.92. Following the completion of the sale, the chief financial officer directly owned 83,420 shares of the company’s stock, valued at approximately $1,489,881.20. The trade was a 2.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,742 shares of company stock worth $424,004 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of First Commonwealth Financial

Several large investors have recently added to or reduced their stakes in FCF. EverSource Wealth Advisors LLC raised its holdings in shares of First Commonwealth Financial by 2,250.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the bank’s stock valued at $42,000 after purchasing an additional 2,498 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in First Commonwealth Financial during the third quarter worth $85,000. Smartleaf Asset Management LLC raised its holdings in First Commonwealth Financial by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,425 shares of the bank’s stock valued at $109,000 after buying an additional 1,140 shares in the last quarter. Kestra Advisory Services LLC bought a new position in First Commonwealth Financial during the fourth quarter valued at about $120,000. Finally, BNP Paribas Financial Markets lifted its position in shares of First Commonwealth Financial by 46.9% in the second quarter. BNP Paribas Financial Markets now owns 10,480 shares of the bank’s stock worth $170,000 after buying an additional 3,344 shares during the last quarter. 72.58% of the stock is owned by institutional investors.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.