First Commonwealth Financial Co. to Post Q2 2024 Earnings of $0.35 Per Share, DA Davidson Forecasts (NYSE:FCF)

First Commonwealth Financial Co. (NYSE:FCF) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for First Commonwealth Financial in a research note issued to investors on Thursday, April 25th. DA Davidson analyst M. Navas forecasts that the bank will earn $0.35 per share for the quarter. The consensus estimate for First Commonwealth Financial’s current full-year earnings is $1.44 per share. DA Davidson also issued estimates for First Commonwealth Financial’s FY2024 earnings at $1.40 EPS.

First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $116.60 million during the quarter, compared to analysts’ expectations of $119.80 million. First Commonwealth Financial had a net margin of 24.96% and a return on equity of 12.89%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share.

A number of other brokerages have also commented on FCF. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. Stephens cut their price objective on shares of First Commonwealth Financial from $16.50 to $15.50 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Finally, StockNews.com lowered shares of First Commonwealth Financial from a “hold” rating to a “sell” rating in a research report on Thursday.

First Commonwealth Financial Stock Down 1.3 %

First Commonwealth Financial stock opened at $13.56 on Friday. The company has a 50 day moving average of $13.28 and a 200-day moving average of $13.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.39 billion, a PE ratio of 8.42 and a beta of 0.87. First Commonwealth Financial has a twelve month low of $11.16 and a twelve month high of $15.90.

First Commonwealth Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.83%. This is a boost from First Commonwealth Financial’s previous quarterly dividend of $0.13. First Commonwealth Financial’s dividend payout ratio (DPR) is currently 31.06%.

Institutional Trading of First Commonwealth Financial

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in First Commonwealth Financial by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,569,502 shares of the bank’s stock valued at $101,435,000 after acquiring an additional 28,553 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Commonwealth Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,856 shares of the bank’s stock worth $43,214,000 after buying an additional 23,924 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of First Commonwealth Financial by 155.0% during the 4th quarter. Franklin Resources Inc. now owns 2,697,502 shares of the bank’s stock worth $41,649,000 after buying an additional 1,639,667 shares during the last quarter. Mariner LLC acquired a new stake in shares of First Commonwealth Financial during the 3rd quarter worth about $32,855,000. Finally, Waldron Private Wealth LLC lifted its stake in shares of First Commonwealth Financial by 10,699.1% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,204,858 shares of the bank’s stock worth $14,711,000 after buying an additional 1,193,701 shares during the last quarter. Institutional investors and hedge funds 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.