First National Financial Corp (FN) Lowered to “Underperform” at National Bank Financial
First National Financial Corp (TSE:FN) was downgraded by analysts at National Bank Financial from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Monday. They currently have a C$25.00 price target on the stock, up from their previous price target of C$23.50. National Bank Financial’s price objective points to a potential downside of 7.30% from the company’s previous close. National Bank Financial also issued estimates for First National Financial Corp’s FY2018 earnings at $2.90 EPS and FY2019 earnings at $3.04 EPS.
Several other equities analysts have also issued reports on the company. Royal Bank Of Canada lowered First National Financial Corp from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from C$27.00 to C$25.00 in a research report on Wednesday, July 26th. Laurentian Bank of Canada cut their target price on First National Financial Corp from C$28.00 to C$27.00 in a research note on Thursday, July 27th. Laurentian cut their target price on First National Financial Corp from C$28.00 to C$27.00 in a research note on Thursday, July 27th. Finally, Scotiabank cut their target price on First National Financial Corp from C$26.00 to C$24.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 27th.
Shares of First National Financial Corp (TSE:FN) opened at 26.97 on Monday. The stock has a 50 day moving average of $26.77 and a 200-day moving average of $25.96. First National Financial Corp has a 52-week low of $22.18 and a 52-week high of $30.02. The stock has a market capitalization of $1.62 billion and a price-to-earnings ratio of 7.24.
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In other news, Director Stephen Smith bought 4,600 shares of the business’s stock in a transaction on Friday, October 13th. The shares were purchased at an average price of C$26.87 per share, for a total transaction of C$123,602.00. Also, Director Robert William Pearce bought 3,500 shares of the business’s stock in a transaction on Friday, July 28th. The stock was purchased at an average price of C$24.75 per share, for a total transaction of C$86,625.00. Insiders acquired a total of 23,825 shares of company stock worth $612,787 in the last 90 days.
About First National Financial Corp
First National Financial Corporation is a Canada-based parent company of First National Financial LP (FNFLP), which is an originator, underwriter and servicer of prime residential (single-family and multi-unit) and commercial mortgages. The Company operates through two segments: Residential (which includes single-family residential mortgages) and Commercial (which includes multi-unit residential and commercial mortgages).
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