First Commonwealth Financial Corp reports results for the quarter ended in March - Earnings Summary

First Commonwealth Financial

23/04/2024 14:32

* First Commonwealth Financial Corp  FCF.N  reported
quarterly
adjusted earnings of 37 cents​​ per share for the quarter ended
in March, higher than the same quarter last year, when the
company reported EPS of 30 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 36 cents per
share. Wall Street expected results to range from 35 cents to 38
cents per share.
    * Revenue fell 0.9% to $116.29 million from a year ago;
analysts
expected $119.93 million. 
    * First Commonwealth Financial Corp's reported EPS for the
quarter
was 37 cents​.
    * The company reported quarterly net income of $37.55
million.
    * First Commonwealth Financial Corp shares had fallen
by 4.5% this
quarter and lost 13.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for First
Commonwealth Financial Corp is $16.00 
This summary was machine generated from LSEG data April 23 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.36           0.37           Beat
 Dec. 31 2023      0.39           0.44           Beat
 Sep. 30 2023      0.40           0.38           Missed
 Jun. 30 2023      0.41           0.42           Beat