NYSE:FCF

Stock Analysis Report

First Commonwealth Financial

Executive Summary

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.

Snowflake

Fundamentals

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has First Commonwealth Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.6%

NYSE:FCF

-1.8%

US Banks

-1.6%

US Market


1 Year Return

-28.0%

NYSE:FCF

-16.1%

US Banks

-3.0%

US Market

FCF underperformed the Banks industry which returned -16.1% over the past year.

FCF underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

FCFIndustryMarket
7 Day-2.6%-1.8%-1.6%
30 Day-8.7%-10.1%-5.7%
90 Day-6.4%-5.0%0.2%
1 Year-26.0%-28.0%-13.7%-16.1%-0.8%-3.0%
3 Year32.0%22.3%37.9%28.5%38.1%29.1%
5 Year58.2%37.8%49.3%33.2%50.8%34.1%

Price Volatility Vs. Market

How volatile is First Commonwealth Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

24%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

First Commonwealth Financial's share price is below the future cash flow value, and 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 Based on Earnings

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

First Commonwealth Financial is poor value based on expected growth next year.


Price Based on Value of Assets

First Commonwealth Financial is overvalued based on assets compared to the US Banks industry average.


Next Steps

Future Growth

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

5.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

First Commonwealth Financial's revenue is expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).

First Commonwealth Financial's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).

First Commonwealth Financial's revenue growth is positive but not above the United States of America market average.

First Commonwealth Financial's earnings growth is positive but not above the United States of America market average.

First Commonwealth Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

First Commonwealth Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

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

18.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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 (29% vs 18.6%)

First Commonwealth Financial's earnings growth has not exceeded the US Banks industry average in the past year (29% vs 33.1%).


Return on Equity

First Commonwealth Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Commonwealth Financial used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

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.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First Commonwealth Financial has an acceptable proportion of non-loan assets held.

First Commonwealth Financial has a sufficient allowance for bad loans.

First Commonwealth Financial's liabilities are made up of primarily low risk sources of funding.

First Commonwealth Financial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First Commonwealth Financial are broadly funded by customer deposits.

First Commonwealth Financial has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

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

3.40%

Expected Dividend Yield


Dividend Yield and Payments Analysis

First Commonwealth Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).

First Commonwealth Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.93%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).


Next Steps

Management

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

7.0yrs

Average management tenure


CEO

Mike Price (56yo)

7.6yrs

Tenure

US$1,187,171

Compensation

Mr. Thomas Michael Price, also known as Mike, has been the Chief Executive Officer of First Commonwealth Financial Corporation since March 7, 2012 and serves as its Chief Executive Officer of First Commonw ...


CEO Compensation Analysis

Mike's remuneration is lower than average for companies of similar size in United States of America.

Mike's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.0yrs

Average Tenure

53yo

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.


Board Age and Tenure

13.0yrs

Average Tenure

67.5yo

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.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$12,90029 May 19
Matthew Tomb
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares1,000
Max PriceUS$12.90
BuyUS$97,91719 Dec 18
Luke Latimer
EntityIndividual
Role
Member of the Board of Directors
Director
Shares8,000
Max PriceUS$12.24
BuyUS$14,92907 Dec 18
Luke Latimer
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,170
Max PriceUS$12.76
BuyUS$51,60030 Oct 18
Ray Charley
EntityIndividual
Role
Member of the Board of Directors
Director
Shares4,000
Max PriceUS$12.90

Ownership Breakdown


Management Team

  • Jane Grebenc (60yo)

    President & Chief Revenue Officer

    • Tenure: 0.0yrs
    • Compensation: US$881.93k
  • Linda Metzmaier

    Chief Compliance Officer

    • Tenure: 7.8yrs
  • Mike Price (56yo)

    CEO & Director

    • Tenure: 7.6yrs
    • Compensation: US$1.19m
  • Jim Reske (55yo)

    Executive VP

    • Tenure: 5.3yrs
    • Compensation: US$825.62k
  • Matt Tomb (42yo)

    Executive VP

    • Tenure: 8.8yrs
    • Compensation: US$655.13k
  • Norm Montgomery (51yo)

    Executive VP & Business Integration Group Manager

    • Tenure: 0.0yrs
    • Compensation: US$478.81k
  • Carrie Riggle (49yo)

    Executive Vice President of Human Resources

    • Tenure: 6.4yrs
  • Ryan Thomas (38yo)

    Vice President / Finance and Investor Relations

    • Tenure: 0.0yrs
  • Amy Jeffords

    Assistant Vice President of Communications & Community Relations

    • Tenure: 0.0yrs
  • Brian Karrip (58yo)

    Chief Credit Officer & Executive VP

    • Tenure: 2.7yrs
    • Compensation: US$763.17k

Board Members

  • Jon Gorney (68yo)

    Director

    • Tenure: 6.6yrs
    • Compensation: US$80.00k
  • David Dahlmann (69yo)

    Chairman of the Board & Lead Director

    • Tenure: 13.6yrs
    • Compensation: US$193.00k
  • Laurie Singer (67yo)

    Director

    • Tenure: 21.6yrs
    • Compensation: US$72.00k
  • Ray Charley (67yo)

    Director

    • Tenure: 21.6yrs
    • Compensation: US$68.00k
  • Johnston Glass (69yo)

    Director

    • Tenure: 33.6yrs
    • Compensation: US$80.00k
  • Robert Ventura (69yo)

    Director

    • Tenure: 15.6yrs
    • Compensation: US$80.00k
  • David Greenfield (68yo)

    Director

    • Tenure: 9.3yrs
    • Compensation: US$76.00k
  • Mike Price (56yo)

    CEO & Director

    • Tenure: 7.6yrs
    • Compensation: US$1.19m
  • Julie Caponi (57yo)

    Director

    • Tenure: 12.3yrs
    • Compensation: US$82.50k
  • Luke Latimer (42yo)

    Director

    • Tenure: 8.3yrs
    • Compensation: US$62.67k

Company Information

First Commonwealth Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Commonwealth Financial Corporation
  • Ticker: FCF
  • Exchange: NYSE
  • Founded: 1934
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.201b
  • Shares outstanding: 98.36m
  • Website: https://www.fcbanking.com

Number of Employees


Location

  • First Commonwealth Financial Corporation
  • 601 Philadelphia Street
  • Indiana
  • Pennsylvania
  • 15701
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FCFNYSE (New York Stock Exchange)YesCommon StockUSUSDAug 1990
FCFDB (Deutsche Boerse AG)YesCommon StockDEEURAug 1990

Biography

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 s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 23:39
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.