First Commonwealth Financial Reports Q4 Earnings Miss Expectations
INDIANA, Pa. (AP) - First Commonwealth Financial Corp. (FCF) announced fourth-quarter earnings of $35.8 million on Tuesday, translating to earnings per share of 35 cents.
Despite beating the $35.3 million reported in the same period last year, the results fell short of Wall Street expectations. Analysts had projected earnings of 36 cents per share, according to Zacks Investment Research.
FCF's revenue for the quarter amounted to $175.3 million, with a net interest income of $120.4 million. Both figures fell below analysts' estimates, with revenue expected to reach $175.4 million and net interest income at $120.7 million.
For the full year, the company reported a profit of $142.6 million, or $1.39 per share, on revenue of $478.1 million.
FCF's stock price remains largely unchanged in pre-market trading.