First Commonwealth reports $19M in quarterly earnings
INDIANA – First Commonwealth Financial Corp. on Tuesday reported third-quarter earnings of $19.2 million.
The bank reported earnings of 20 cents per share. Earnings, adjusted for non-recurring costs, were 24 cents per share. The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The financial holding company posted revenue of $100.4 million in the period. Its revenue net of interest expense was $93.1 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $91.6 million.
First Commonwealth Financial shares have declined 40% since the beginning of the year.