(Corrects revenue figure and estimates in overview and key details table)

Overview

* First Commonwealth Q2 adjusted rev rises to $131.33 mln, beating analysts' expectations

* Adjusted EPS of $0.38 beat consensus

* Core net income of $39.5 mln exceeded analysts' expectations

* Co announces new $25 mln share repurchase program

Result Drivers

* NET INTEREST INCOME - Driven by a 21 basis point expansion in net interest margin and a $411.1 mln increase in interest-earning assets

* LOAN GROWTH - Total loans increased $183.7 mln, or 8.1% annualized, from the previous quarter

* NONINTEREST INCOME - Increased $2.3 mln from the previous quarter, despite a decrease in card-related interchange income due to regulatory changes

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $131.33 $125.90

Adjusted mln mln (5

Revenue analysts

)

Q2 Beat $0.38 $0.34 (6

Adjusted Analysts

EPS )

Q2 EPS $0.32

Q2 Beat $39.50 $34.30

Adjusted mln mln (5

Net Analysts

Income )

Q2 Net $33.40

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for First Commonwealth Financial Corp ( FCF ) is $18.00, about 9.4% above its July 28 closing price of $16.31

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)