Wall Street brokerages expect First Commonwealth Financial (NYSE:FCF) to report $82.38 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for First Commonwealth Financial’s earnings, with the lowest sales estimate coming in at $81.65 million and the highest estimate coming in at $83.56 million. First Commonwealth Financial posted sales of $76.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.4%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, July 24th.
According to Zacks, analysts expect that First Commonwealth Financial will report full year sales of $335.63 million for the current year, with estimates ranging from $334.75 million to $336.57 million. For the next financial year, analysts forecast that the business will post sales of $354.66 million per share, with estimates ranging from $353.06 million to $357.48 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for First Commonwealth Financial.
First Commonwealth Financial (NYSE:FCF) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $81.73 million for the quarter, compared to analysts’ expectations of $79.69 million. First Commonwealth Financial had a return on equity of 9.69% and a net margin of 18.06%. During the same quarter in the prior year, the firm posted $0.18 EPS.
FCF has been the topic of a number of analyst reports. Zacks Investment Research cut First Commonwealth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. ValuEngine cut First Commonwealth Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.00.
In other First Commonwealth Financial news, CEO T Michael Price sold 50,127 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $15.75, for a total transaction of $789,500.25. Following the sale, the chief executive officer now owns 182,510 shares in the company, valued at approximately $2,874,532.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.42% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of FCF. SG Americas Securities LLC acquired a new stake in shares of First Commonwealth Financial during the first quarter worth $148,000. A.R.T. Advisors LLC acquired a new stake in shares of First Commonwealth Financial during the first quarter worth $152,000. Jane Street Group LLC acquired a new stake in shares of First Commonwealth Financial during the first quarter worth $208,000. Xact Kapitalforvaltning AB acquired a new stake in shares of First Commonwealth Financial during the fourth quarter worth $217,000. Finally, Koch Industries Inc. acquired a new stake in shares of First Commonwealth Financial during the first quarter worth $230,000. Institutional investors and hedge funds own 66.85% of the company’s stock.
NYSE:FCF traded up $0.04 during trading hours on Tuesday, reaching $15.84. 9,741 shares of the company traded hands, compared to its average volume of 511,187. The stock has a market cap of $1.57 billion, a PE ratio of 19.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.86. First Commonwealth Financial has a 1-year low of $12.06 and a 1-year high of $16.40.
First Commonwealth Financial Company Profile
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.
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