How did FCF's Q4 earnings surprise investors?

First Commonwealth Financial Corporation (FCF) experienced a slight miss in its Q4 2024 earnings per share (EPS) compared to forecasts, resulting in a notable decline in its stock price. However, the company's performance in other areas, such as loan growth, was strong. Here's a detailed analysis of FCF's Q4 earnings and their impact on investors:

1. **Earnings Performance**:
- FCF's Q4 diluted EPS was $0.35, which met the consensus estimates.
- This was a slight improvement over the previous quarter's EPS of $0.32.
2. **Revenue and Profitability**:
- FCF reported a revenue of $120.42 million for Q4 2024, marking a year-over-year increase of 0.3%.
- The company's pre-tax pre-provision ROA for the fourth quarter was 1.77%, and the Return on Equity (ROE) was 1.23%.
3. **Net Interest Margin and Efficiency Ratio**:
- FCF's Net Interest Margin (NIM) was 3.54% for Q4 2024.
- The Core Efficiency Ratio was 56.1% for the same quarter.
4. **Comparative Analysis**:
- FCF's Q4 EPS of $0.35 was lower than the $0.44 reported in the same quarter of the previous year.
- The reported revenue was slightly below the Zacks Consensus Estimate of $120.66 million.
5. **Investor Reaction and Market Impact**:
- Despite meeting estimates, the market reacted negatively due to the slight miss in EPS and lower revenue compared to the previous year.
- The stock experienced a decline in after-hours trading following the earnings release.

In conclusion, while FCF's Q4 earnings showed resilience in revenue and certain profitability metrics, the slight miss in EPS and lower revenue compared to the previous year led to a negative surprise for investors, resulting in a stock price drop.