Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
First Commonwealth Financial Corp. (FCF)
NYSE:FCF
Holding FCF?
Track your performance easily
Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.35Last Year’s EPS
$0.44Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 0.65%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were notable achievements such as recognition in SBA lending and high customer satisfaction scores, the company faced significant challenges including elevated credit provisions and expenses, as well as net interest margin pressure due to rate cuts and the impact of the Centric acquisition. Deposit growth was strong, but the reduction in interchange income posed a concern.Company Guidance
During the earnings call for First Commonwealth Financial Corporation's third quarter of 2024, several key financial metrics and projections were discussed. The company reported core earnings per share of $0.31, with loans remaining flat and deposits increasing, contributing to a slight decrease in net interest margin by 1 basis point to 3.56%. The efficiency ratio was 56.6%, and the core pretax pre-provision net revenue stood at $50.9 million, close to analyst consensus. Notably, the provision expense rose by $2.8 million to $10.6 million, driven by specific reserves for two legacy loans and charge-offs related to the Centric acquisition. Despite the $3 million decline in interchange income due to the Durbin amendment, other income sources such as SBA, wealth management, and BOLI helped mitigate the impact, resulting in a noninterest income reduction of only $683,000. For the fourth quarter, noninterest income is expected to be between $22 million and $24 million, with noninterest expenses anticipated to range from $67 million to $68 million. Looking ahead, the company forecasts net interest margin stability, projecting it to remain in the mid-3.50% range through early 2025.SBA Lending Recognition
First Commonwealth earned recognition as the #2 SBA lender by dollars in Western Pennsylvania for the 2024 fiscal year ending in September.
Customer Satisfaction Peak
Customer Satisfaction Score and Net Promoter Scores reached 5-year peaks at 90.4 and 70.3, respectively, exceeding industry benchmarks.
Deposit Growth
Deposits grew at an annualized rate of 8% so far this year, bringing the loan-to-deposit ratio down by 360 basis points in the third quarter.
Positive Repricing on Loans
Fixed-rate loans originated at 7.24% versus run-off at 5.52%, reflecting a positive repricing gap despite rate cuts.
---
FCF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
FCF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $16.82 | $16.76 | -0.36% |
| Jul 23, 2024 | $16.55 | $17.05 | +3.02% |
| Apr 23, 2024 | $12.97 | $13.25 | +2.16% |
| Jan 30, 2024 | $14.44 | $13.54 | -6.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does First Commonwealth Financial Corp. (FCF) report earnings?
First Commonwealth Financial Corp. (FCF) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is First Commonwealth Financial Corp. (FCF) earnings time?
First Commonwealth Financial Corp. (FCF) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FCF EPS forecast?
FCF EPS forecast for the fiscal quarter 2024 (Q4) is $0.35.
---