DA Davidson Issues Optimistic Forecast for FCF Earnings

First Commonwealth Financial Corporation (NYSE:FCF - Free Report) - DA Davidson upped their FY2025 earnings per share estimates for shares of First Commonwealth Financial in a report issued on Tuesday, July 1st. DA Davidson analyst M. Navas now anticipates that the bank will earn $1.48 per share for the year, up from their prior forecast of $1.47. The consensus estimate for First Commonwealth Financial's current full-year earnings is $1.45 per share.

Several other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of First Commonwealth Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods cut their price objective on First Commonwealth Financial from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reduced their price objective on First Commonwealth Financial from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, First Commonwealth Financial presently has a consensus rating of "Hold" and a consensus price target of $18.92.

First Commonwealth Financial Price Performance

FCF stock traded up $0.30 during midday trading on Wednesday, reaching $16.98. The company had a trading volume of 473,082 shares, compared to its average volume of 637,235. The firm has a 50-day moving average price of $15.72 and a 200-day moving average price of $15.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $1.78 billion, a P/E ratio of 12.67 and a beta of 0.81. First Commonwealth Financial has a 1 year low of $13.54 and a 1 year high of $19.96.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. First Commonwealth Financial had a net margin of 19.68% and a return on equity of 9.80%. The company had revenue of $118.51 million for the quarter, compared to analysts' expectations of $117.70 million. During the same period in the prior year, the business earned $0.37 earnings per share. First Commonwealth Financial's revenue for the quarter was up 1.5% compared to the same quarter last year.

Institutional Trading of First Commonwealth Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in shares of First Commonwealth Financial by 700.8% in the first quarter. Millennium Management LLC now owns 384,829 shares of the bank's stock worth $5,980,000 after purchasing an additional 336,775 shares during the last quarter. Nuveen LLC purchased a new stake in First Commonwealth Financial during the 1st quarter valued at $5,077,000. JPMorgan Chase & Co. boosted its position in First Commonwealth Financial by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 927,453 shares of the bank's stock valued at $15,693,000 after buying an additional 295,011 shares during the period. Norges Bank bought a new stake in First Commonwealth Financial in the 4th quarter worth $4,536,000. Finally, First Trust Advisors LP increased its position in shares of First Commonwealth Financial by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,268,410 shares of the bank's stock valued at $21,461,000 after acquiring an additional 210,876 shares during the period. Institutional investors own 72.58% of the company's stock.

Insider Buying and Selling at First Commonwealth Financial

In related news, Director Todd D. Brice bought 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of $16.09 per share, for a total transaction of $112,630.00. Following the acquisition, the director directly owned 10,500 shares of the company's stock, valued at $168,945. The trade was a 200.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.17% of the company's stock.

First Commonwealth Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.135 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.54 annualized dividend and a dividend yield of 3.18%. This is an increase from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's payout ratio is currently 40.30%.

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.