INDIANA, Pa. (AP) _ First Commonwealth Financial Corp. (FCF) on Tuesday reported third-quarter profit of $26.6 million.
The bank, based in Indiana, Pennsylvania, said it had earnings of 27 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 30 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The financial holding company posted revenue of $104.8 million in the period. Its revenue net of interest expense was $90.6 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $90.8 million.
First Commonwealth Financial shares have risen 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.20, an increase of nearly 8% in the last 12 months.