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First Commonwealth Financial

NYSE:FCF
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCF
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. The last earnings update was 16 days ago. More info.


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FCF Share Price and Events
7 Day Returns
-1.6%
NYSE:FCF
1.6%
US Banks
0.2%
US Market
1 Year Returns
-15.5%
NYSE:FCF
-9.3%
US Banks
2.9%
US Market
FCF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Commonwealth Financial (FCF) -1.6% 2.7% -6.9% -15.5% 43.6% 55.2%
US Banks 1.6% -1.8% -1.4% -9.3% 38.6% 47.3%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • FCF underperformed the Banks industry which returned -9.3% over the past year.
  • FCF underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
FCF
Industry
5yr Volatility vs Market

FCF Value

 Is First Commonwealth Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Commonwealth Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Commonwealth Financial.

NYSE:FCF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $10.95 * 11%
$1.20
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $10.95
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:FCF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.63
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.625 (1 + (1- 21%) (61.89%))
0.954
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.954 * 5.96%)
8.42%

Discounted Cash Flow Calculation for NYSE:FCF using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Commonwealth Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:FCF Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11% – 8.42%) * $10.95)
$0.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.28 / (8.42% - 2.73%)
$4.92
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $10.95 + $4.92
$15.87
NYSE:FCF Discount to Share Price
Calculation Result
Value per share (USD) From above. $15.87
Current discount Discount to share price of $13.30
= -1 x ($13.30 - $15.87) / $15.87
16.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Commonwealth Financial is available for.
Intrinsic value
16%
Share price is $13.3 vs Future cash flow value of $15.87
Current Discount Checks
For First Commonwealth Financial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Commonwealth Financial's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • First Commonwealth Financial's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Commonwealth Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Commonwealth Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FCF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.10
NYSE:FCF Share Price ** NYSE (2019-05-22) in USD $13.3
United States of America Banks Industry PE Ratio Median Figure of 595 Publicly-Listed Banks Companies 12.86x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Commonwealth Financial.

NYSE:FCF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FCF Share Price ÷ EPS (both in USD)

= 13.3 ÷ 1.10

12.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Commonwealth Financial is good value based on earnings compared to the US Banks industry average.
  • First Commonwealth Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Commonwealth Financial's expected growth come at a high price?
Raw Data
NYSE:FCF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
7.1%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.36x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NYSE:FCF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.14x ÷ 7.1%

1.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Commonwealth Financial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Commonwealth Financial's assets?
Raw Data
NYSE:FCF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $10.13
NYSE:FCF Share Price * NYSE (2019-05-22) in USD $13.3
United States of America Banks Industry PB Ratio Median Figure of 600 Publicly-Listed Banks Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NYSE:FCF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FCF Share Price ÷ Book Value per Share (both in USD)

= 13.3 ÷ 10.13

1.31x

* Primary Listing of First Commonwealth Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Commonwealth Financial is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Commonwealth Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Commonwealth Financial has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCF Future Performance

 How is First Commonwealth Financial expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Commonwealth Financial expected to grow at an attractive rate?
  • First Commonwealth Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Commonwealth Financial's earnings growth is positive but not above the United States of America market average.
  • First Commonwealth Financial's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FCF Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FCF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 7.1%
NYSE:FCF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 7.9%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:FCF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FCF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 385 118 4
2019-12-31 359 107 4
NYSE:FCF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 332 133 109
2018-12-31 326 135 107
2018-09-30 324 119 84
2018-06-30 323 107 81
2018-03-31 311 82 63
2017-12-31 302 88 55
2017-09-30 291 93 69
2017-06-30 277 94 65
2017-03-31 254 97 63
2016-12-31 244 89 60
2016-09-30 229 80 52
2016-06-30 223 88 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Commonwealth Financial's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
  • First Commonwealth Financial's revenue is expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:FCF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from First Commonwealth Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.19 1.25 1.08 6.00
2019-12-31 1.09 1.12 1.05 6.00
NYSE:FCF Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.10
2018-12-31 1.09
2018-09-30 0.86
2018-06-30 0.82
2018-03-31 0.64
2017-12-31 0.58
2017-09-30 0.74
2017-06-30 0.71
2017-03-31 0.71
2016-12-31 0.67
2016-09-30 0.58
2016-06-30 0.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Commonwealth Financial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Commonwealth Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Commonwealth Financial has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCF Past Performance

  How has First Commonwealth Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Commonwealth Financial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Commonwealth Financial's year on year earnings growth rate has been positive over the past 5 years.
  • First Commonwealth Financial's 1-year earnings growth exceeds its 5-year average (74% vs 17.5%)
  • First Commonwealth Financial's earnings growth has exceeded the US Banks industry average in the past year (74% vs 40.1%).
Earnings and Revenue History
First Commonwealth Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Commonwealth Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 331.92 108.82 158.79
2018-12-31 326.35 107.50 155.48
2018-09-30 324.15 84.48 156.55
2018-06-30 322.59 80.62 154.91
2018-03-31 311.38 62.55 153.37
2017-12-31 302.19 55.17 150.51
2017-09-30 291.47 69.10 144.04
2017-06-30 276.71 65.01 136.80
2017-03-31 253.53 63.01 128.91
2016-12-31 244.00 59.59 125.84
2016-09-30 229.24 51.74 120.98
2016-06-30 223.45 46.96 122.28
2016-03-31 229.20 48.40 124.56
2015-12-31 233.24 50.14 124.31
2015-09-30 232.92 47.81 125.46
2015-06-30 235.02 47.89 127.17
2015-03-31 234.85 46.37 126.19
2014-12-31 231.75 44.45 125.64
2014-09-30 233.18 45.98 126.05
2014-06-30 235.78 49.34 123.31
2014-03-31 225.57 43.23 123.98
2013-12-31 224.53 41.48 127.61
2013-09-30 219.65 40.96 123.91
2013-06-30 212.94 34.95 123.84
2013-03-31 218.57 41.46 124.02
2012-12-31 226.43 41.95 127.32
2012-09-30 204.55 27.50 124.12
2012-06-30 200.28 25.98 123.72

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Commonwealth Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Commonwealth Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Commonwealth Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Commonwealth Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Commonwealth Financial has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCF Health

 How is First Commonwealth Financial's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Commonwealth Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Commonwealth Financial Company Filings, last reported 1 month ago.

NYSE:FCF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 998.02 809.70 131.51
2018-12-31 975.39 908.96 95.82
2018-09-30 972.93 782.48 105.23
2018-06-30 960.79 738.06 110.82
2018-03-31 899.35 680.57 79.98
2017-12-31 888.13 798.46 98.77
2017-09-30 894.30 898.86 133.50
2017-06-30 879.47 939.67 121.79
2017-03-31 761.00 1,047.41 127.68
2016-12-31 749.93 954.83 116.67
2016-09-30 751.79 1,430.27 101.48
2016-06-30 741.79 1,567.29 121.71
2016-03-31 733.31 1,618.01 92.07
2015-12-31 719.55 1,603.14 76.13
2015-09-30 722.77 1,455.35 89.07
2015-06-30 711.21 1,352.68 78.00
2015-03-31 712.86 1,275.83 80.47
2014-12-31 716.15 1,278.17 80.82
2014-09-30 709.48 1,232.72 93.54
2014-06-30 724.50 1,065.56 109.12
2014-03-31 716.78 801.90 103.94
2013-12-31 711.70 857.49 88.90
2013-09-30 711.36 782.66 107.51
2013-06-30 710.68 672.99 96.10
2013-03-31 747.73 605.25 72.53
2012-12-31 746.01 655.17 115.86
2012-09-30 773.89 662.25 107.19
2012-06-30 772.49 675.24 104.12
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Commonwealth Financial has an acceptable proportion of non-loan assets held.
  • First Commonwealth Financial's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Commonwealth Financial are broadly funded by customer deposits.
  • First Commonwealth Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Commonwealth Financial has a sufficient allowance for bad loans.
  • First Commonwealth Financial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Commonwealth Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Commonwealth Financial has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCF Dividends

 What is First Commonwealth Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.01%
Current annual income from First Commonwealth Financial dividends. Estimated to be 3.09% next year.
If you bought $2,000 of First Commonwealth Financial shares you are expected to receive $60 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Commonwealth Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • First Commonwealth Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:FCF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 477 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:FCF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.42 5.00
2019-12-31 0.40 5.00
NYSE:FCF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.400 2.966
2019-03-01 0.400 3.029
2019-01-29 0.400 2.882
2018-11-08 0.360 2.773
2018-10-23 0.360 2.692
2018-08-08 0.360 2.215
2018-07-24 0.360 2.115
2018-04-24 0.360 2.281
2018-01-24 0.320 2.230
2017-11-07 0.320 2.191
2017-10-25 0.320 2.220
2017-08-09 0.320 2.413
2017-07-26 0.320 2.480
2017-04-25 0.320 2.505
2017-03-14 0.320 2.456
2017-01-25 0.320 2.283
2016-11-09 0.280 2.126
2016-10-26 0.280 2.770
2016-07-27 0.280 2.816
2016-05-09 0.280 3.053
2016-04-26 0.280 3.099
2016-02-29 0.280 3.145
2016-01-27 0.280 3.328
2015-11-09 0.280 3.096
2015-10-28 0.280 2.947
2015-07-29 0.280 3.093
2015-05-08 0.280 2.980
2015-04-28 0.280 3.085
2015-03-02 0.280 3.149
2015-01-28 0.280 3.331
2014-11-10 0.280 3.143
2014-10-29 0.280 2.999
2014-07-23 0.280 3.200
2014-04-22 0.280 3.174
2014-01-29 0.280 3.269
2013-10-23 0.240 2.737
2013-07-24 0.240 3.160
2013-04-23 0.240 3.275
2013-01-30 0.200 2.740
2012-10-24 0.200 3.002
2012-07-24 0.200 2.846
2012-04-24 0.200 3.127
2012-01-24 0.120 2.000
2011-10-18 0.120 2.449
2011-07-19 0.120 2.831
2011-04-20 0.120 2.098
2011-01-18 0.120 1.850
2010-10-19 0.040 0.617
2010-07-20 0.040 0.760
2010-04-21 0.040 0.710
2010-01-25 0.120 1.917
2009-10-22 0.120 2.591
2009-07-27 0.120 2.013

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Commonwealth Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Commonwealth Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Commonwealth Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Commonwealth Financial has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCF Management

 What is the CEO of First Commonwealth Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Price
COMPENSATION $1,187,171
AGE 55
TENURE AS CEO 7.3 years
CEO Bio

Mr. Thomas Michael Price, also known as Mike, has been the Chief Executive Officer and President of First Commonwealth Financial Corporation since March 7, 2012 and serves as its Chief Executive Officer of First Commonwealth Bank, Inc. since March 2013. Mr. Price served as the President of First Commonwealth Bank, Inc. from November 2007 to May 2013. He served as an interim President and Chief Executive Officer of First Commonwealth Financial Corporation from January 1, 2012 to March 7, 2012. Mr. Price served as the Chief Executive Officer of National City Bank Cincinnati and Northern Kentucky Regions National City Corporation from July 2004 to November 2007 and served as Executive Vice President and Head of Small Business Banking of National City, until July 2004 and its Senior Vice President. He began his banking career in 1987 at National City, where he served in a variety of positions including branch manager, commercial lender and regional branch executive. Prior to leading National City in Cincinnati, he started its Small Business Banking division. He has been a Director at First Commonwealth Financial Corporation and First Commonwealth Bank, Inc. since March 2012. Mr. Price serves on the Board of Directors of Greater Cincinnati Boy Scouts, Dan Beard Council, Cincinnati Freestore Foodbank, Holocaust and Humanity Center, Cincinnati Opera, The University of Cincinnati Economics Development Center, Cincinnati Business Committee Service Programs and The Church of Jesus Christ of Latter-day Saints. Mr. Price earned a Bachelor of science degree from the University of Utah in 1987 and a Master's degree in Business Administration from Cleveland State University in 1997.

CEO Compensation
  • Mike's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mike's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Commonwealth Financial management team in years:

6.2
Average Tenure
52
Average Age
  • The average tenure for the First Commonwealth Financial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Price

TITLE
President
COMPENSATION
$1M
AGE
55
TENURE
7.3 yrs

Jim Reske

TITLE
Executive VP
COMPENSATION
$826K
AGE
54
TENURE
5.1 yrs

Matt Tomb

TITLE
Executive VP
COMPENSATION
$655K
AGE
41
TENURE
8.5 yrs

Jane Grebenc

TITLE
Executive VP & Chief Revenue Officer
COMPENSATION
$882K
AGE
59
TENURE
6 yrs

Brian Karrip

TITLE
Chief Credit Officer & Executive VP
COMPENSATION
$763K
AGE
57
TENURE
2.4 yrs

Ryan Thomas

TITLE
Vice President / Finance and Investor Relations
AGE
37

Linda Metzmaier

TITLE
Chief Compliance Officer
TENURE
7.5 yrs

Amy Jeffords

TITLE
Assistant Vice President of Communications & Community Relations

Carrie Riggle

TITLE
Executive Vice President of Human Resources
AGE
48
TENURE
6.2 yrs

Norm Montgomery

TITLE
Executive VP & Business Integration Group Manager
COMPENSATION
$479K
AGE
50
Board of Directors Tenure

Average tenure and age of the First Commonwealth Financial board of directors in years:

12.7
Average Tenure
66.5
Average Age
  • The average tenure for the First Commonwealth Financial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

David Dahlmann

TITLE
Chairman of the Board & Lead Director
COMPENSATION
$193K
AGE
68
TENURE
13.3 yrs

Mike Price

TITLE
President
COMPENSATION
$1M
AGE
55
TENURE
7.2 yrs

Robert Ventura

TITLE
Director
COMPENSATION
$80K
AGE
68
TENURE
15.3 yrs

Julie Caponi

TITLE
Director
COMPENSATION
$83K
AGE
56
TENURE
12.1 yrs

David Greenfield

TITLE
Director
COMPENSATION
$76K
AGE
67
TENURE
9.1 yrs

Jon Gorney

TITLE
Director
COMPENSATION
$80K
AGE
67
TENURE
6.3 yrs

Laurie Singer

TITLE
Director
COMPENSATION
$72K
AGE
66
TENURE
21.3 yrs

Ray Charley

TITLE
Director
COMPENSATION
$68K
AGE
66
TENURE
21.3 yrs

Johnston Glass

TITLE
Director
COMPENSATION
$80K
AGE
68
TENURE
33.3 yrs

Luke Latimer

TITLE
Director
COMPENSATION
$63K
AGE
41
TENURE
8.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Dec 18 Buy Luke Latimer Individual 18. Dec 18 18. Dec 18 8,000 $12.24 $97,917
07. Dec 18 Buy Luke Latimer Individual 06. Dec 18 06. Dec 18 1,170 $12.76 $14,929
30. Oct 18 Buy Ray Charley Individual 29. Oct 18 29. Oct 18 4,000 $12.90 $51,600
31. May 18 Sell Thomas Price Individual 30. May 18 30. May 18 -50,127 $15.75 $-789,400
X
Management checks
We assess First Commonwealth Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Commonwealth Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCF News

Simply Wall St News

Is First Commonwealth Financial Corporation's (NYSE:FCF) P/E Ratio Really That Good?

We'll apply a basic P/E ratio analysis to First Commonwealth Financial Corporation's (NYSE:FCF), to help you decide if the stock is worth further research. … Check out our latest analysis for First Commonwealth Financial How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for First Commonwealth Financial: P/E of 12.25 = $13.42 ÷ $1.1 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Could The First Commonwealth Financial Corporation (NYSE:FCF) Ownership Structure Tell Us Something Useful?

A look at the shareholders of First Commonwealth Financial Corporation (NYSE:FCF) can tell us which group is most powerful. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … First Commonwealth Financial has a market capitalization of US$1.4b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

If You Like EPS Growth Then Check Out First Commonwealth Financial (NYSE:FCF) Before It's Too Late

First Commonwealth Financial's Earnings Per Share Are Growing. … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … First Commonwealth Financial maintained stable EBIT margins over the last year, all while growing revenue 8.0% to US$326m.

Simply Wall St -

Does First Commonwealth Financial Corporation (NYSE:FCF) Have A High Beta?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

At US$13.32, Is First Commonwealth Financial Corporation (NYSE:FCF) Worth Looking At Closely?

First Commonwealth Financial Corporation (NYSE:FCF), operating in the financial services industry based in United States,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Today I will analyse the most recent data on First Commonwealth Financial’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Is First Commonwealth Financial Corporation (NYSE:FCF) A Smart Pick For Income Investors?

Historically, First Commonwealth Financial Corporation (NYSE:FCF) has been paying a dividend to shareholders. … Does First Commonwealth Financial tick all the boxes of a great dividend stock? … Check out our latest analysis for First Commonwealth Financial

Simply Wall St -

Should You Be Concerned About First Commonwealth Financial Corporation’s (NYSE:FCF) Risks?

As a small-cap bank with a market capitalisation of US$1.3b, First Commonwealth Financial Corporation’s (NYSE:FCF) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Commonwealth Financial’s bottom line. … Today we will analyse First Commonwealth Financial’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

First Commonwealth Financial Shareholders Booked A 59% Gain In The Last Five Years

To wit, the First Commonwealth Financial share price has climbed 59% in five years, easily topping the market return of 39% (ignoring dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, First Commonwealth Financial achieved compound earnings per share (EPS) growth of 20% per year.

Simply Wall St -

Is First Commonwealth Financial Corporation (NYSE:FCF) Excessively Paying Its CEO?

In 2012 Mike Price was appointed CEO of First Commonwealth Financial Corporation (NYSE:FCF). … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mike Price's Compensation Compare With Similar Sized Companies?

Simply Wall St -

2 Days Left To Cash In On First Commonwealth Financial Corporation (NYSE:FCF) Dividend

On the 22 February 2019, First Commonwealth Financial Corporation (NYSE:FCF) will be paying shareholders an upcoming dividend amount of US$0.10 per share. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … How I analyze a dividend stock?

Simply Wall St -

FCF Company Info

Description

First Commonwealth Financial Corporation, through its subsidiaries, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services. The company’s commercial banking services comprise commercial lending, business checking accounts, online account management services, payroll direct deposits, commercial cash management services, and repurchase agreements, as well as ACH origination services. It also offers various trust and asset management services; auto, home, and business insurance, as well as term life insurance; and annuities, mutual funds, and stock and bond brokerage services through a broker-dealer and insurance brokers. As of March 4, 2019, the company operated 137 community banking offices in western and central Pennsylvania, as well as northeastern, central, and southwestern Ohio. It also leases 3 mortgage loan production offices and 3 corporate loan production offices, as well as operates a network of 150 automated teller machines. First Commonwealth Financial Corporation was founded in 1934 and is headquartered in Indiana, Pennsylvania.

Details
Name: First Commonwealth Financial Corporation
FCF
Exchange: NYSE
Founded: 1934
$1,308,220,412
98,362,437
Website: http://www.fcbanking.com
Address: First Commonwealth Financial Corporation
601 Philadelphia Street,
Indiana,
Pennsylvania, 15701,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FCF Common Stock New York Stock Exchange US USD 21. Aug 1990
DB FCF Common Stock Deutsche Boerse AG DE EUR 21. Aug 1990
Number of employees
Current staff
Staff numbers
1,438
First Commonwealth Financial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 04:05
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/03
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.