Equities research analysts forecast that First Commonwealth Financial Corporation (NYSE:FCF) will announce $80.35 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for First Commonwealth Financial Corporation’s earnings. The lowest sales estimate is $79.62 million and the highest is $80.87 million. First Commonwealth Financial Corporation reported sales of $69.85 million in the same quarter last year, which would suggest a positive year over year growth rate of 15%. The business is expected to report its next earnings results on Wednesday, January 24th.

According to Zacks, analysts expect that First Commonwealth Financial Corporation will report full-year sales of $80.35 million for the current financial year, with estimates ranging from $303.32 million to $308.88 million. For the next financial year, analysts forecast that the company will report sales of $329.87 million per share, with estimates ranging from $323.31 million to $337.23 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for First Commonwealth Financial Corporation.

First Commonwealth Financial Corporation (NYSE:FCF) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $80.46 million during the quarter, compared to the consensus estimate of $79.29 million. First Commonwealth Financial Corporation had a return on equity of 9.53% and a net margin of 21.96%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS.

FCF has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of First Commonwealth Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Royal Bank Of Canada initiated coverage on shares of First Commonwealth Financial Corporation in a report on Monday, July 17th. They set an “outperform” rating and a $14.00 price target on the stock. Raymond James Financial, Inc. cut their price target on shares of First Commonwealth Financial Corporation from C$4.50 to C$3.75 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. FBR & Co reiterated a “neutral” rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a report on Friday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price target on shares of First Commonwealth Financial Corporation in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. First Commonwealth Financial Corporation currently has a consensus rating of “Buy” and an average target price of $9.96.

First Commonwealth Financial Corporation (FCF) opened at 14.50 on Monday. First Commonwealth Financial Corporation has a 1-year low of $9.95 and a 1-year high of $14.76. The firm’s 50-day moving average price is $13.78 and its 200-day moving average price is $13.02. The firm has a market cap of $1.41 billion, a P/E ratio of 20.48 and a beta of 1.01.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, November 3rd. First Commonwealth Financial Corporation’s payout ratio is 43.24%.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in First Commonwealth Financial Corporation by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,864,321 shares of the bank’s stock worth $112,399,000 after purchasing an additional 177,076 shares during the last quarter. Northern Trust Corp boosted its holdings in First Commonwealth Financial Corporation by 5.8% in the second quarter. Northern Trust Corp now owns 1,552,863 shares of the bank’s stock worth $19,689,000 after purchasing an additional 84,936 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in First Commonwealth Financial Corporation in the second quarter worth approximately $2,731,000. AQR Capital Management LLC boosted its holdings in First Commonwealth Financial Corporation by 19.1% in the first quarter. AQR Capital Management LLC now owns 389,862 shares of the bank’s stock worth $5,170,000 after purchasing an additional 62,401 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in First Commonwealth Financial Corporation in the second quarter worth approximately $561,000. Hedge funds and other institutional investors own 63.03% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/30/first-commonwealth-financial-corporation-fcf-expected-to-announce-quarterly-sales-of-80-35-million.html.

About First Commonwealth Financial Corporation

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

Get a free copy of the Zacks research report on First Commonwealth Financial Corporation (FCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for First Commonwealth Financial Corporation (NYSE:FCF)

Receive News & Ratings for First Commonwealth Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Commonwealth Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.