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Earnings To Watch: First Commonwealth Financial (FCF) Reports Q2 Results Tomorrow

FCF Cover Image

Regional banking company First Commonwealth Financial (NYSE: FCF) will be reporting results this Tuesday afternoon. Here’s what investors should know.

First Commonwealth Financial beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $118 million, up 1.5% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ tangible book value per share estimates but EPS in line with analysts’ estimates.

Is First Commonwealth Financial a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting First Commonwealth Financial’s revenue to grow 4.6% year on year to $125.7 million, a reversal from the 1.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.35 per share.

First Commonwealth Financial Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Commonwealth Financial has missed Wall Street’s revenue estimates three times over the last two years.

Looking at First Commonwealth Financial’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Seacoast Banking delivered year-on-year revenue growth of 19.6%, beating analysts’ expectations by 5%, and Atlantic Union Bankshares reported revenues up 86.2%, topping estimates by 12.5%. Seacoast Banking’s stock price was unchanged after the resultswhile Atlantic Union Bankshares was down 1.9%.

Read our full analysis of Seacoast Banking’s results here and Atlantic Union Bankshares’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 4.3% on average over the last month. First Commonwealth Financial’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $18.40 (compared to the current share price of $16.27).

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