First National Financial (TSE:FN) Trading 13.2% Higher - Here's Why

Key Points

• First National Financial's stock surged by 13.2% on Monday, reaching as high as C$49.00, with trading volume increasing by 543% compared to its average.
• Multiple analysts have revised their price targets for the company, with CIBC lowering it to C$41.00 and TD Securities to C$41.00 while maintaining a "buy" rating.
• The company announced a dividend payment of $0.2083 per share, scheduled for payment on August 15, with a payout ratio of 79.78%.

First National Financial Co. (TSE:FN - Get Free Report)'s stock price traded up 13.2% on Monday . The stock traded as high as C$49.00 and last traded at C$48.10. 209,952 shares changed hands during trading, an increase of 543% from the average session volume of 32,663 shares. The stock had previously closed at C$42.48.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. CIBC lowered their price target on First National Financial from C$44.00 to C$41.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. National Bankshares reduced their target price on First National Financial from C$43.00 to C$39.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 30th. Scotiabank reduced their target price on First National Financial from C$44.00 to C$42.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, TD Securities reduced their target price on First National Financial from C$45.00 to C$41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st.

First National Financial Trading Up 13.4%

The business has a 50-day simple moving average of C$40.46 and a 200 day simple moving average of C$39.82. The stock has a market cap of C$2.90 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04.

First National Financial Announces Dividend

The firm also recently announced a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2083 per share. First National Financial's payout ratio is 79.78%.

About First National Financial

First National Financial Corp is the parent company of First National Financial LP, a Canadian originator, underwriter, and servicer of predominantly prime residential and commercial mortgages. The company controls its First National Mortgage Investment Fund, which manages economic exposure to a diversified portfolio of primarily commercial mezzanine mortgages.

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