First Commonwealth Financial Corporation (FCF) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: First Commonwealth Financial Corporation

Market cap $2B · 52 weeks $15 – $22 (4 % below the high) · P/E 12.4× · 2027 est. P/E 10.5× · Dividend 2.6 % · 9 years rising · Next earnings January 26, 2027 · expected EPS $0.46 · Closing price, Oct 30 · accounts published Oct 27.

• Valuation: P/B 1.4× (fairly priced).
• Business: ROTCE 13.2 % (passes, near the threshold).
• Balance sheet: Capital/assets 12.6 % (solid).
• Earnings: 3 of 8 (disappointing).

What would it be worth at its usual multiples?

At a P/B justified by its ROTCE 13.2 % (1.3×) $19 (-8 %); at its peers' median (1.6×) $24 (+13 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in banking: 4 of 5 pass

• P/B (Price / Book) 1.4×, borderline.
• ROA 1.4 %, passes.
• ROTCE 13.2 %, passes, near the threshold.
• Equity / Assets (Tier 1 proxy) 12.6 %, passes.
• Sustainable dividend yield 2.6 %, passes.

Against its peers (reference peers) — First Commonwealth Financial Corporation: P/E 12.4×; P/B 1.4×; ROE 11.2 %; $2.1B. 1st Source Corporation (P/E 12.0×; P/B 1.6×; ROE 13.8 %; $2.1B), Northwest Bancshares, Inc. (P/E 11.3×; P/B 1.2×; ROE 10.5 %; $2.2B), City Holding Company (P/E 15.6×; P/B 2.6×; ROE 16.4 %; $2.0B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 1.4× · median 1.3× · minimum 0.7× · maximum 1.9× · cheap below 1.2× · expensive above 1.5×. It has been cheaper than today 70% of the time over its last ten fiscal years.

Dividend

solid · Yield 2.6 % ($0.54 per share in 2025) · Years raising it 9 · 5-year growth +4 % a year · Free cash flow coverage payout 36 % · With $1,000 invested today you'd collect $26.20 a year ($2.18 a month).