Zacks: Brokerages expect First Commonwealth Financial Co. (NYSE:FCF) to post quarterly sales of $97.26 million
Stock analysts expect First Commonwealth Financial Co. (NYSE: FCF – Get a rating) will announce sales of $97.26 million for the current quarter, according to Zacks Investment Research. Four analysts have made earnings estimates for First Commonwealth Financial, with estimates ranging from $96.57 million to $98.06 million. First Commonwealth Financial recorded sales of $94.29 million in the same quarter last year, which would indicate a positive growth rate of 3.1% year-over-year. The company is expected to release its next results on Monday, January 1.
On average, analysts expect First Commonwealth Financial to report annual sales of $393.82 million for the current fiscal year, with estimates ranging from $389.21 million to $400.57 million. . For next year, analysts expect the company to post sales of $426.85 million, with estimates ranging from $417.00 to $443.96 million. Zacks sales averages are an average average based on a survey of sell-side analysts who follow First Commonwealth Financial.
First Commonwealth Financial (NYSE: FCF – Get a rating) last released its quarterly results on Tuesday, April 26. The bank reported EPS of $0.29 for the quarter, missing the consensus estimate of $0.30 per ($0.01). First Commonwealth Financial had a net margin of 32.00% and a return on equity of 11.51%. The company posted revenue of $92.15 million in the quarter, compared to $93.91 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.41. The company’s quarterly revenue was down 4.8% year over year.
Several research analysts recently commented on the title. B. Riley cut his price target on First Commonwealth Financial shares from $19.00 to $18.00 in a Tuesday, April 12 report. StockNews.com assumed coverage of First Commonwealth Financial shares in a Thursday, March 31 report. They issued a “holding” rating on the stock. Finally, DA Davidson reiterated a “buy” rating on First Commonwealth Financial shares in a Thursday, January 27 report. Three equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, First Commonwealth Financial currently has a consensus rating of “Buy” and a consensus price target of $18.33.
A number of large investors have recently changed their holdings in the company. Victory Capital Management Inc. increased its position in shares of First Commonwealth Financial by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 522,185 shares of the bank worth $8,402,000 after purchasing an additional 76,233 shares last quarter. DA Davidson & CO. acquired a new stake in the shares of First Commonwealth Financial during the fourth quarter worth approximately $341,000. Jennison Associates LLC acquired a new stake in the shares of First Commonwealth Financial during the fourth quarter for a value of approximately $1,348,000. Franklin Resources Inc. acquired a new stake in shares of First Commonwealth Financial during the third quarter worth approximately $460,000. Finally, Metropolitan Life Insurance Co NY increased its position in First Commonwealth Financial shares by 9.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 24,282 shares of the bank worth $331,000 after buying 2,186 additional shares last quarter. 68.56% of the shares are held by institutional investors.
NYSE FCF opened at $13.29 on Friday. First Commonwealth Financial has a one-year low of $12.36 and a one-year high of $17.63. The company’s 50-day moving average price is $14.53 and its 200-day moving average price is $15.53. The company has a debt ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.25 billion, a price-earnings ratio of 9.99 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 20. Shareholders of record on Friday, May 6 received a dividend of $0.12. This is an increase from First Commonwealth Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, May 5. This represents an annualized dividend of $0.48 and a yield of 3.61%. First Commonwealth Financial’s dividend payout ratio (DPR) is 36.09%.
Profile of the Commonwealth’s First Financial Corporation (Get a rating)
First Commonwealth Financial Corporation, a financial holding company, provides various retail and corporate banking services in the United States. Its consumer services include personal checking accounts, interest-bearing checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, interest rate certificates of deposit fixed and variable loans, mortgages, secured and unsecured installment loans, construction and home loans, safe deposit boxes, credit cards, lines of credit with overdraft protection, IRA accounts and automated teller machine (ATM) services ), as well as internet, mobile and telephone banking.
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