First Commonwealth Financial (NYSE:FCF) Announces Quarterly Earnings Results

First Commonwealth Financial (NYSE:FCF) announced its quarterly earnings results on Tuesday. The bank reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01), Zacks reports. First Commonwealth Financial had a net margin of 22.62% and a return on equity of 10.79%.

First Commonwealth Financial Trading Down 1.2%

FCF traded down $0.24 during trading hours on Tuesday, reaching $20.95. 696,828 shares of the company’s stock traded hands, compared to its average volume of 830,744. The firm has a 50-day moving average price of $20.76 and a 200 day moving average price of $19.35. The firm has a market capitalization of $2.12 billion, a PE ratio of 12.85 and a beta of 0.76. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. First Commonwealth Financial has a 52-week low of $15.00 and a 52-week high of $22.34.

Insiders Place Their Bets

In other First Commonwealth Financial news, CFO James Reske sold 2,072 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $20.52, for a total value of $42,517.44. Following the sale, the chief financial officer owned 70,988 shares in the company, valued at $1,456,673.76. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,216 shares of company stock valued at $131,821 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of First Commonwealth Financial from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 price target on shares of First Commonwealth Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of First Commonwealth Financial from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 31st. DA Davidson started coverage on shares of First Commonwealth Financial in a research report on Monday, September 28th. They issued a “neutral” rating and a $24.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 price objective (up from $21.00) on shares of First Commonwealth Financial in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation (NYSE: FCF) is a bank holding company headquartered in Indiana, Pennsylvania. Through its principal subsidiary, First Commonwealth Bank, the company provides financial services to consumers, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, treasury management and online and mobile banking. The company also provides wealth management, investment and trust services, along with insurance and other financial solutions through affiliated businesses.

First Commonwealth Bank serves communities primarily in western and central Pennsylvania and northeastern Ohio through a network of community banking offices and digital channels.