Wall Street brokers expect First Commonwealth Financial Co. (NYSE: FCF – Get a rating) will bring in $97.09 million in sales for the current fiscal quarter, according to Zacks. Four analysts made earnings estimates for First Commonwealth Financial. The highest sales estimate is $98.10 million and the lowest is $96.57 million. First Commonwealth Financial reported sales of $94.29 million in the same quarter last year, indicating a positive growth rate of 3% year-over-year. The company is due to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect First Commonwealth Financial to report annual sales of $394.02 million for the current year, with estimates ranging from $389.21 million to $400.57 million . For the next fiscal year, analysts expect the company to record sales of $424.57 million, with estimates ranging from $416.20 million to $443.77 million. Zacks Investment Research sales calculations are an average average based on a survey of research analysts who cover First Commonwealth Financial.
First Commonwealth Financial (NYSE: FCF – Get a rating) last announced its results on Tuesday, April 26. The bank reported earnings per share (EPS) of $0.29 for the quarter, missing analyst consensus estimates of $0.30 per ($0.01). The company posted revenue of $92.15 million in the quarter, versus analyst estimates of $93.91 million. First Commonwealth Financial had a net margin of 34.51% and a return on equity of 12.55%. The company’s revenue for the quarter was down 4.8% from the same quarter last year. During the same period last year, the company earned earnings per share of $0.41.
A number of brokerages have commented on FCF. B. Riley lowered his target price on First Commonwealth Financial from $19.00 to $18.00 in a Tuesday, April 12 report. StockNews.com began covering First Commonwealth Financial in a report on Thursday, March 31. They have placed a “holding” rating on the stock. DA Davidson reaffirmed a “buy” rating on First Commonwealth Financial shares in a research report on Thursday, January 27. To finish, Zacks Investment Research upgraded First Commonwealth Financial from a ‘hold’ to a ‘buy’ rating and set a target price of $18.00 for the stock in a Wednesday, January 5 research report. Three equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.33.
Shares of FCF Share opened at $13.48 on Friday. The company has a market capitalization of $1.27 billion, a price-earnings ratio of 9.30 and a beta of 1.02. The stock has a 50-day simple moving average of $15.17 and a 200-day simple moving average of $15.63. First Commonwealth Financial has a 12-month low of $12.36 and a 12-month high of $17.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt ratio of 0.16.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 20. Shareholders of record on Friday, May 6 will receive a dividend of $0.12 per share. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.12. This represents an annualized dividend of $0.48 and a dividend yield of 3.56%. The ex-dividend date is Thursday, May 5. First Commonwealth Financial’s payout ratio is currently 31.72%.
A number of large investors have recently changed their stock holdings. SG Americas Securities LLC acquired a new position in shares of First Commonwealth Financial during the third quarter worth approximately $638,000. DA Davidson & CO. bought a new stake in shares of First Commonwealth Financial during the fourth quarter, valued at approximately $341,000. Franklin Resources Inc. acquired a new position in First Commonwealth Financial in the third quarter valued at approximately $460,000. Metropolitan Life Insurance Co NY increased its holdings in First Commonwealth Financial by 9.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 24,282 shares of the bank valued at $331,000 after purchasing an additional 2,186 shares during the period. Finally, Raymond James & Associates increased its stake in First Commonwealth Financial by 12.5% in the third quarter. Raymond James & Associates now owns 18,814 shares of the bank worth $256,000 after purchasing an additional 2,096 shares during the period. Hedge funds and other institutional investors hold 67.70% of the company’s shares.
Profile of the Commonwealth’s First Financial Corporation (Get a rating)
First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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