- The provision expense will likely increase next year relative to 2021 but remain below the pre-pandemic average.
- The management’s team expansion efforts and venture in the equipment finance segment will likely boost loan growth next year.
- The margin is moderately sensitive to interest rate changes. Therefore, the rising interest-rate environment will lift the net interest income.
- The December 2022 target price suggests a small upside from the current market price. Further, FCF is offering a limited dividend yield.
For further details see:
First Commonwealth Financial: Outlook Of Strong Balance Sheet Growth, Decent Price Upside