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Here's What Key Metrics Tell Us About First Commonwealth Financial (FCF) Q2 Earnings
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First Commonwealth Financial (FCF - Free Report) reported $122.35 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 24.6%. EPS of $0.42 for the same period compares to $0.33 a year ago.
The reported revenue represents a surprise of +0.36% over the Zacks Consensus Estimate of $121.91 million. With the consensus EPS estimate being $0.42, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 52.8% versus the three-analyst average estimate of 51.06%.
Net Interest Margin (FTE): 3.85% versus the three-analyst average estimate of 3.92%.
Average balance-Total interest-earning assets: $10.22 billion versus the three-analyst average estimate of $10.12 billion.
Total Non-Interest Income: $24.52 million versus the three-analyst average estimate of $23.91 million.
Gain on sale of mortgage loans: $1.25 million compared to the $0.79 million average estimate based on three analysts.
Gain on sale of other loans and assets: $1.89 million versus $2.07 million estimated by two analysts on average.
Card related interchange income: $7.37 million compared to the $6.99 million average estimate based on two analysts.
Net Interest Income (FTE): $98.13 million versus the two-analyst average estimate of $99.80 million.
Other Income: $2.23 million versus $2.54 million estimated by two analysts on average.
Service charges on deposit accounts: $5.32 million versus the two-analyst average estimate of $5.01 million.
Insurance and retail brokerage commissions: $2.31 million versus $2.82 million estimated by two analysts on average.
Income from Bank owned life insurance: $1.20 million versus $1.12 million estimated by two analysts on average.
Shares of First Commonwealth Financial have returned +10.5% over the past month versus the Zacks S&P 500 composite's +4.9% 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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Here's What Key Metrics Tell Us About First Commonwealth Financial (FCF) Q2 Earnings
First Commonwealth Financial (FCF - Free Report) reported $122.35 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 24.6%. EPS of $0.42 for the same period compares to $0.33 a year ago.
The reported revenue represents a surprise of +0.36% over the Zacks Consensus Estimate of $121.91 million. With the consensus EPS estimate being $0.42, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 52.8% versus the three-analyst average estimate of 51.06%.
- Net Interest Margin (FTE): 3.85% versus the three-analyst average estimate of 3.92%.
- Average balance-Total interest-earning assets: $10.22 billion versus the three-analyst average estimate of $10.12 billion.
- Total Non-Interest Income: $24.52 million versus the three-analyst average estimate of $23.91 million.
- Gain on sale of mortgage loans: $1.25 million compared to the $0.79 million average estimate based on three analysts.
- Gain on sale of other loans and assets: $1.89 million versus $2.07 million estimated by two analysts on average.
- Card related interchange income: $7.37 million compared to the $6.99 million average estimate based on two analysts.
- Net Interest Income (FTE): $98.13 million versus the two-analyst average estimate of $99.80 million.
- Other Income: $2.23 million versus $2.54 million estimated by two analysts on average.
- Service charges on deposit accounts: $5.32 million versus the two-analyst average estimate of $5.01 million.
- Insurance and retail brokerage commissions: $2.31 million versus $2.82 million estimated by two analysts on average.
- Income from Bank owned life insurance: $1.20 million versus $1.12 million estimated by two analysts on average.
View all Key Company Metrics for First Commonwealth Financial here>>>Shares of First Commonwealth Financial have returned +10.5% over the past month versus the Zacks S&P 500 composite's +4.9% 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.