Equities analysts predict that First Commonwealth Financial (NYSE:FCF) will announce sales of $84.76 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Commonwealth Financial’s earnings, with estimates ranging from $84.29 million to $85.28 million. First Commonwealth Financial posted sales of $79.35 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The company is expected to issue its next earnings report after the market closes on Tuesday, October 23rd.
On average, analysts expect that First Commonwealth Financial will report full-year sales of $340.83 million for the current financial year, with estimates ranging from $334.96 million to $343.26 million. For the next financial year, analysts expect that the business will report sales of $352.41 million, with estimates ranging from $351.26 million to $353.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last released its earnings results on Tuesday, July 24th. The bank reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. First Commonwealth Financial had a net margin of 22.17% and a return on equity of 10.81%. The business had revenue of $89.98 million during the quarter, compared to analysts’ expectations of $82.38 million. During the same quarter last year, the company earned $0.21 earnings per share.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Raymond James reissued a “hold” rating on shares of First Commonwealth Financial in a research report on Friday, September 7th. Sandler O’Neill assumed coverage on shares of First Commonwealth Financial in a research report on Thursday, August 30th. They issued a “hold” rating and a $18.00 price target for the company. DA Davidson assumed coverage on shares of First Commonwealth Financial in a research report on Thursday, August 23rd. They issued a “neutral” rating and a $18.00 price target for the company. Finally, ValuEngine lowered shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Nine investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $16.67.
Shares of NYSE FCF traded down $0.28 during mid-day trading on Monday, hitting $14.96. The company had a trading volume of 74,318 shares, compared to its average volume of 494,920. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. First Commonwealth Financial has a 12 month low of $13.50 and a 12 month high of $17.91. The stock has a market cap of $1.62 billion, a PE ratio of 18.56 and a beta of 1.00.
A number of large investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new position in First Commonwealth Financial in the third quarter worth about $170,000. Atria Investments LLC acquired a new stake in shares of First Commonwealth Financial during the third quarter worth approximately $358,000. Northern Trust Corp increased its holdings in shares of First Commonwealth Financial by 3.3% during the second quarter. Northern Trust Corp now owns 1,603,929 shares of the bank’s stock worth $24,877,000 after buying an additional 50,811 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First Commonwealth Financial by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,410,700 shares of the bank’s stock worth $21,879,000 after buying an additional 22,901 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of First Commonwealth Financial by 17.4% during the second quarter. California Public Employees Retirement System now owns 267,545 shares of the bank’s stock worth $4,150,000 after buying an additional 39,648 shares in the last quarter. 68.69% of the stock is owned by hedge funds and other institutional investors.
About First Commonwealth Financial
First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, 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.
Featured Story: What is the Dividend Aristocrat Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Commonwealth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial and related companies with MarketBeat.com's FREE daily email newsletter.