First Commonwealth Financial (NYSE:FCF) Announces Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• First Commonwealth reported quarterly EPS of $0.37, missing the consensus of $0.40 by $0.03, with revenue of $133.7M slightly below estimates but up 12.9% year‑over‑year and EPS up from $0.32 a year ago.
• Company insiders sold a total of 22,742 shares this quarter (including EVP and CFO sales), while institutional ownership rose to 72.58% after notable purchases from Wellington, Millennium and State Street.
• Shares traded around $18.73 (market cap ~$1.91B, P/E 12.85), and analysts maintain an average rating of Moderate Buy with an average price target of $19.75.

First Commonwealth Financial (NYSE:FCF - Get Free Report) posted its earnings results on Tuesday. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03), Zacks reports. The firm had revenue of $133.70 million during the quarter, compared to the consensus estimate of $134.48 million. First Commonwealth Financial had a net margin of 20.88% and a return on equity of 10.43%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS.

First Commonwealth Financial Stock Performance

FCF traded up $0.09 during midday trading on Tuesday, reaching $18.73. The company had a trading volume of 124,947 shares, compared to its average volume of 855,174. The business has a 50-day moving average of $17.84 and a two-hundred day moving average of $17.21. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. First Commonwealth Financial has a 1 year low of $15.00 and a 1 year high of $19.14. The company has a market cap of $1.91 billion, a P/E ratio of 12.85 and a beta of 0.76.

Insider Buying and Selling

In other First Commonwealth Financial news, EVP Jane Grebenc sold 18,598 shares of First Commonwealth Financial stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $18.85, for a total transaction of $350,572.30. Following the transaction, the executive vice president owned 158,975 shares of the company's stock, valued at $2,996,678.75. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James R. Reske sold 2,072 shares of the company's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.86, for a total transaction of $37,005.92. Following the completion of the transaction, the chief financial officer owned 83,420 shares of the company's stock, valued at approximately $1,489,881.20. The trade was a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 22,742 shares of company stock valued at $424,004. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FCF. Wellington Management Group LLP bought a new stake in First Commonwealth Financial during the fourth quarter valued at about $15,685,000. Millennium Management LLC boosted its stake in shares of First Commonwealth Financial by 112.9% in the third quarter. Millennium Management LLC now owns 1,091,740 shares of the bank's stock worth $18,614,000 after acquiring an additional 578,893 shares during the period. State Street Corp grew its position in shares of First Commonwealth Financial by 4.7% during the fourth quarter. State Street Corp now owns 4,854,021 shares of the bank's stock worth $81,839,000 after purchasing an additional 216,099 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of First Commonwealth Financial by 6.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,516,155 shares of the bank's stock worth $42,422,000 after purchasing an additional 162,079 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its stake in First Commonwealth Financial by 1,092.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 132,520 shares of the bank's stock valued at $2,234,000 after purchasing an additional 121,407 shares during the period. Institutional investors own 72.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial set a $20.00 price objective on shares of First Commonwealth Financial and gave the stock an "outperform" rating in a research note on Wednesday, January 7th. Weiss Ratings restated a "buy (b-)" rating on shares of First Commonwealth Financial in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Commonwealth Financial from $19.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.75.

About First Commonwealth Financial

First Commonwealth Financial Corporation, headquartered in Indiana, Pennsylvania, is a bank holding company whose primary subsidiary is First Commonwealth Bank. Established in 1889 as Indiana National Bank, the company has grown through a combination of organic expansion and strategic acquisitions to build a diversified platform of commercial banking, retail banking and wealth management services.

First Commonwealth offers a comprehensive suite of financial products, including deposit accounts, personal and business lending solutions, mortgage origination and servicing, treasury management, and trust and investment services.

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