Erste Commonwealth Financial Co. Forecasts Q4 2022 Earnings Of $0.47 Per Share (NYSE:FCF)
First Commonwealth Financial Co. (NYSE:FCF – received rating) – Equity analysts at DA Davidson have released their estimates of earnings per share for the fourth quarter of 2022 for shares of First Commonwealth Financial in a research note issued to investors on Wednesday, October 26. M. Navas, an analyst at DA Davidson, expects the bank to report earnings per share of $0.47 for the quarter. DA Davidson currently has a buy rating on the stock. The consensus estimate for First Commonwealth Financial’s most recent full-year earnings is $1.40 per share. DA Davidson also released estimates for First Commonwealth Financial’s fiscal 2023 earnings of $1.82 per share.
First Commonwealth Financial (NYSE:FCF – received rating) last released its quarterly earnings data on Tuesday, July 26. The bank reported earnings per share of $0.33 for the quarter, matching analysts’ consensus estimate of $0.33. First Commonwealth Financial had a return on equity of 11.86% and a net margin of 31.21%. The company had revenue of $98.17 million for the quarter, compared to the consensus estimate of $98.20 million. In the same period last year, the company posted $0.31 per share.
FCF has been the subject of a number of other research reports. Janney Montgomery Scott took over coverage of First Commonwealth Financial in a research note on Thursday, September 29th. They issued a “buy” rating and a price target of $16.00 on the company. B. Riley raised its price target on First Commonwealth Financial from $16.00 to $17.00 in a research note on Monday, August 1. Raymond James lowered its target price on First Commonwealth Financial to $16.00 from $17.00 and gave the company a “Outperform” rating in a research note on Tuesday, September 6th. Stephens lowered First Commonwealth Financial from an “overweight” rating to an “equiweight” rating and set a price target of $15.50 for the company. in a research note on Wednesday, August 3. Finally, StockNews.com accepted coverage of First Commonwealth Financial in a research note on Wednesday, October 12. They give the company a “hold” rating. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.42.
First Commonwealth Financial Price Performance
FCF share opened Friday for $13.98. The company has a leverage of 0.17, a quick ratio of 0.90 and a current ratio of 0.90. First Commonwealth Financial has a 1 year low of $12.76 and a 1 year high of $17.63. The company has a market cap of $1.31 billion, a P/E of 10.36 and a beta of 0.98. The stock has a 50-day simple moving average of $13.67 and a 200-day simple moving average of $13.85.
Institutional inflows and outflows
Hedge funds have recently changed their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new position in First Commonwealth Financial stock valued at approximately $63,000 during the second quarter. Psagot Value Holdings Ltd. Israel acquired a new stake in First Commonwealth Financial stock valued at approximately $76,000 in Q1. KBC Group NV acquired a new stake in First Commonwealth Financial shares valued at approximately $92,000 in the second quarter. Financial Enhancement Group LLC acquired a new interest in First Commonwealth Financial stock valued at approximately $116,000 during the third quarter. Finally, Captrust Financial Advisors increased its holding in shares of First Commonwealth Financial by 59.3% during the first quarter. Captrust Financial Advisors now owns 8,689 shares of the bank, valued at $132,000, after purchasing an additional 3,233 shares last quarter. Institutional investors and hedge funds own 70.36% of the company’s shares.
First Commonwealth Financial announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4 will receive a dividend of $0.12. The ex-dividend date of this dividend is Thursday November 3rd. That equates to an annualized dividend of $0.48 and a dividend yield of 3.43%. First Commonwealth Financial’s payout ratio is 35.56%.
About First Commonwealth Financial
First Commonwealth Financial Corporation, a financial holding company, provides a variety of consumer and commercial banking services in the United States. Consumer services include personal checking accounts, interest bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, certificates of deposit at fixed and variable rates, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA -Accounts and ATM services, as well as internet, mobile and telephone banking services.
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