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First Commonwealth Financial (FCF) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, First Commonwealth Financial (FCF - Free Report) reported revenue of $116.29 million, down 0.9% over the same period last year. EPS came in at $0.37, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $120.02 million, representing a surprise of -3.11%. The company delivered an EPS surprise of +2.78%, with the consensus EPS estimate being $0.36.
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: 55.1% versus the three-analyst average estimate of 56.1%.
Net interest margin (FTE): 3.5% versus the three-analyst average estimate of 3.7%.
Total Interest-Earning Assets (FTE): $10.58 billion versus the three-analyst average estimate of $10.55 billion.
Gain on sale of mortgage loans: $1.33 million versus the three-analyst average estimate of $0.81 million.
Total Non-Interest Income: $23.99 million compared to the $24.52 million average estimate based on three analysts.
Gain on sale of other loans and assets: $2.05 million versus $1.92 million estimated by two analysts on average.
Net Interest Income: $92.30 million compared to the $96.26 million average estimate based on two analysts.
Insurance and retail brokerage commissions: $2.25 million compared to the $2.79 million average estimate based on two analysts.
Other Income: $2.26 million versus the two-analyst average estimate of $2.16 million.
Service charges on deposit accounts: $5.38 million versus $5.86 million estimated by two analysts on average.
Income from bank owned life insurance: $1.29 million compared to the $1.11 million average estimate based on two analysts.
Trust income: $2.73 million compared to the $2.80 million average estimate based on two analysts.
Shares of First Commonwealth Financial have returned -1.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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First Commonwealth Financial (FCF) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, First Commonwealth Financial (FCF - Free Report) reported revenue of $116.29 million, down 0.9% over the same period last year. EPS came in at $0.37, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $120.02 million, representing a surprise of -3.11%. The company delivered an EPS surprise of +2.78%, with the consensus EPS estimate being $0.36.
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: 55.1% versus the three-analyst average estimate of 56.1%.
- Net interest margin (FTE): 3.5% versus the three-analyst average estimate of 3.7%.
- Total Interest-Earning Assets (FTE): $10.58 billion versus the three-analyst average estimate of $10.55 billion.
- Gain on sale of mortgage loans: $1.33 million versus the three-analyst average estimate of $0.81 million.
- Total Non-Interest Income: $23.99 million compared to the $24.52 million average estimate based on three analysts.
- Gain on sale of other loans and assets: $2.05 million versus $1.92 million estimated by two analysts on average.
- Net Interest Income: $92.30 million compared to the $96.26 million average estimate based on two analysts.
- Insurance and retail brokerage commissions: $2.25 million compared to the $2.79 million average estimate based on two analysts.
- Other Income: $2.26 million versus the two-analyst average estimate of $2.16 million.
- Service charges on deposit accounts: $5.38 million versus $5.86 million estimated by two analysts on average.
- Income from bank owned life insurance: $1.29 million compared to the $1.11 million average estimate based on two analysts.
- Trust income: $2.73 million compared to the $2.80 million average estimate based on two analysts.
View all Key Company Metrics for First Commonwealth Financial here>>>Shares of First Commonwealth Financial have returned -1.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.