4. First Commonwealth Financial Shares of First Commonwealth Financial ( FCF) of Indiana, Pa., closed at $3.94 Monday, down 44% year-to-date. The shares trade for 0.7 times their tangible book value of $5.70, according to SNL Financial. Based on a quarterly payout of three cents, the shares have a dividend yield of 3.05%. The company had $5.7 million in total assets as of June 30, and reported second-quarter net income of $7.4 million, or seven cents a share, declining from $13.5 million, or 15 cents a share, in the second quarter of 2010. The second-quarter provision for loan losses was $9.1 million, increasing from $4 million a year earlier, but declining from $13.8 million in the first quarter. First Commonwealth's second-quarter net interest margin was a tax-adjusted 3.76%, declining from 3.88% a year earlier. The second-quarter ROA was 0.52%, according to SNL. Nonperforming assets increased to 3.24% of total assets as of June 30, from 2.66% a year earlier. Despite the increase in problem assets, Sterne Agee analyst Mike Shafir rates First Commonwealth a buy, as the company's "tangible book value continued to grow," and that "the company has sufficient capital (TCE/TA =10.8%) and pre-tax net revenue to handle problem asset resolution during this credit cycle." Shafir's price target for the stock is $6.50. The shares trade for nine times the consensus 2012 earnings estimate of 42 cents a share, among analysts polled by FactSet. Five of the nine analysts covering First Commonwealth Financial rate the shares a buy, while the remaining analysts all have neutral ratings.