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First Commonwealth Financial (FCF) Reports Q2 Earnings: What Key Metrics Have to Say
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First Commonwealth Financial (FCF - Free Report) reported $120.2 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.8%. EPS of $0.36 for the same period compares to $0.42 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $118.49 million. With the consensus EPS estimate being $0.35, the EPS surprise was +2.86%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Commonwealth Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Core Efficiency Ratio: 53.6% versus the three-analyst average estimate of 56.5%.
Net interest margin (FTE): 3.6% versus the three-analyst average estimate of 3.5%.
Total Interest-Earning Assets (FTE): $10.74 billion versus the three-analyst average estimate of $10.73 billion.
Net charge-offs as a percent of average loans and leases (annualized): 0.2% compared to the 0.2% average estimate based on two analysts.
Total Non-Interest Income: $25.21 million versus $24.88 million estimated by three analysts on average.
Gain on sale of mortgage loans: $1.67 million compared to the $1.72 million average estimate based on three analysts.
Gain on sale of other loans and assets: $1.41 million versus the two-analyst average estimate of $2.08 million.
Net Interest Income: $94.99 million versus $93.41 million estimated by two analysts on average.
Card-related interchange income: $7.14 million versus $6.88 million estimated by two analysts on average.
Net interest income, (FTE): $94.99 million versus the two-analyst average estimate of $90.31 million.
Trust income: $2.82 million compared to the $2.96 million average estimate based on two analysts.
Service charges on deposit accounts: $5.55 million versus $5.25 million estimated by two analysts on average.
Shares of First Commonwealth Financial have returned +25.3% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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First Commonwealth Financial (FCF) Reports Q2 Earnings: What Key Metrics Have to Say
First Commonwealth Financial (FCF - Free Report) reported $120.2 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.8%. EPS of $0.36 for the same period compares to $0.42 a year ago.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $118.49 million. With the consensus EPS estimate being $0.35, the EPS surprise was +2.86%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Commonwealth Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Core Efficiency Ratio: 53.6% versus the three-analyst average estimate of 56.5%.
- Net interest margin (FTE): 3.6% versus the three-analyst average estimate of 3.5%.
- Total Interest-Earning Assets (FTE): $10.74 billion versus the three-analyst average estimate of $10.73 billion.
- Net charge-offs as a percent of average loans and leases (annualized): 0.2% compared to the 0.2% average estimate based on two analysts.
- Total Non-Interest Income: $25.21 million versus $24.88 million estimated by three analysts on average.
- Gain on sale of mortgage loans: $1.67 million compared to the $1.72 million average estimate based on three analysts.
- Gain on sale of other loans and assets: $1.41 million versus the two-analyst average estimate of $2.08 million.
- Net Interest Income: $94.99 million versus $93.41 million estimated by two analysts on average.
- Card-related interchange income: $7.14 million versus $6.88 million estimated by two analysts on average.
- Net interest income, (FTE): $94.99 million versus the two-analyst average estimate of $90.31 million.
- Trust income: $2.82 million compared to the $2.96 million average estimate based on two analysts.
- Service charges on deposit accounts: $5.55 million versus $5.25 million estimated by two analysts on average.
View all Key Company Metrics for First Commonwealth Financial here>>>Shares of First Commonwealth Financial have returned +25.3% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.