First Commonwealth Financial: 2Q Earnings Snapshot
INDIANA, Pa. (AP) _ First Commonwealth Financial Corp. (FCF) on Tuesday reported second-quarter earnings of $32.1 million.
The Indiana, Pennsylvania-based bank said it had earnings of 32 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 33 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The financial holding company posted revenue of $99.2 million in the period. Its revenue net of interest expense was $90 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $82.4 million.
First Commonwealth Financial shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.41, an increase of 27 percent in the last 12 months.