First National Financial (TSX:FN) - Stock Price, News & Analysis

FN Stock Overview

First National Financial Corporation, together with its subsidiaries, originates, underwrites, and services commercial and residential mortgages in Canada.

About the company

FN fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	5/6
Financial Health	3/6
Dividends	6/6

Rewards

Trading at 50.4% below our estimate of its fair value

Revenue is forecast to grow 8.22% per year

Earnings grew by 49% over the past year

Pays a high and reliable dividend of 6.7%

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 1.3% per year for the next 3 years

Debt is not well covered by operating cash flow

First National Financial Corporation Competitors

MCAN Mortgage

TSX:MKP

CA$613.5m

Atrium Mortgage Investment

TSX:AI

CA$492.3m

Timbercreek Financial

TSX:TF

CA$588.5m

Firm Capital Mortgage Investment

TSX:FC

CA$376.3m

Price History & Performance

Summary of all time highs, changes and price drops for First National Financial
Historical stock prices
Current Share Price	CA$36.57
52 Week High	CA$41.80
52 Week Low	CA$32.86
Beta	1.06
1 Month Change	-4.14%
3 Month Change	-8.23%
1 Year Change	-8.98%
3 Year Change	-28.50%
5 Year Change	19.78%
Change since IPO	265.33%

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

Apr 25

Recent updates

First National Financial's (TSE:FN) Shareholders Will Receive A Bigger Dividend Than Last Year

Nov 23

First National Financial (TSE:FN) Is Increasing Its Dividend To CA$0.75

Nov 09

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

Oct 20

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

Sep 26

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

Aug 26

First National Financial's (TSE:FN) Dividend Will Be CA$0.20

Jul 20

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

Jun 23

First National Financial (TSE:FN) Has Announced A Dividend Of CA$0.20

Apr 21

Industry Analysts Just Upgraded Their First National Financial Corporation (TSE:FN) Revenue Forecasts By 36%

Mar 03

First National Financial (TSE:FN) Has Announced A Dividend Of CA$0.20

Feb 19

First National Financial (TSE:FN) Has Announced A Dividend Of CA$0.20

Jan 20

First National Financial's (TSE:FN) Dividend Will Be CA$0.20

Dec 19

Some Analysts Just Cut Their First National Financial Corporation (TSE:FN) Estimates

Oct 30

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.1958

Oct 26

Shareholder Returns

	FN	CA Diversified Financial	CA Market
7D	-0.7%	-0.4%	1.2%
1Y	-9.0%	-4.0%	11.8%

Return vs Industry: FN underperformed the Canadian Diversified Financial industry which returned -4% over the past year.

Return vs Market: FN underperformed the Canadian Market which returned 11.8% over the past year.

Price Volatility

Is FN's price volatile compared to industry and market?
FN volatility
FN Average Weekly Movement	3.4%
Diversified Financial Industry Average Movement	6.3%
Market Average Movement	8.9%
10% most volatile stocks in CA Market	17.9%
10% least volatile stocks in CA Market	2.9%

Stable Share Price: FN has not had significant price volatility in the past 3 months.

Volatility Over Time: FN's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1988	1,659	Jason Ellis	www.firstnational.ca

First National Financial Corporation, together with its subsidiaries, originates, underwrites, and services commercial and residential mortgages in Canada. It operates in two segments, Residential and Commercial segments. The company offers single-family and multi-unit residential, and commercial mortgages.

First National Financial Corporation Fundamentals Summary

How do First National Financial's earnings and revenue compare to its market cap?
FN fundamental statistics
Market cap	CA$2.20b
Earnings (TTM)	CA$263.05m
Revenue (TTM)	CA$772.21m

8.3x

P/E Ratio

2.8x

P/S Ratio

Is FN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FN income statement (TTM)
Revenue	CA$772.21m
Cost of Revenue	CA$130.45m
Gross Profit	CA$641.76m
Other Expenses	CA$378.72m
Earnings	CA$263.05m

Last Reported Earnings

Mar 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	4.39
Gross Margin	83.11%
Net Profit Margin	34.06%
Debt/Equity Ratio	5,807.1%

How did FN perform over the long term?

See historical performance and comparison

Dividends

6.7%

Current Dividend Yield

55%

Payout Ratio

Does FN pay a reliable dividends?

See FN dividend history and benchmarks

When do you need to buy FN by to receive an upcoming dividend?
First National Financial dividend dates
Ex Dividend Date	May 31 2024
Dividend Pay Date	Jun 14 2024
Days until Ex dividend	8 days
Days until Dividend pay date	22 days

Does FN pay a reliable dividends?

See FN dividend history and benchmarks

FN Stock Overview

Rewards

Risk Analysis

First National Financial Corporation Competitors

TSX:MKP

CA$613.5m

TSX:AI

CA$492.3m

TSX:TF

CA$588.5m

TSX:FC

CA$376.3m

Price History & Performance

Recent News & Updates

Dividend of CA$0.20 announced

First National Financial Corporation Announces Dividend for the Month Ended May 31, 2024, Payable on June 14, 2024

Independent Director recently bought CA$368k worth of stock

New major risk - Revenue and earnings growth

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

Recent updates

Dividend of CA$0.20 announced

First National Financial Corporation Announces Dividend for the Month Ended May 31, 2024, Payable on June 14, 2024

Independent Director recently bought CA$368k worth of stock

New major risk - Revenue and earnings growth

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

Upcoming dividend of CA$0.20 per share

Dividend of CA$0.20 announced

First National Financial Corporation Announces Dividend for the Month Ended April 30, 2024, Payable on May 15, 2024

First National Financial Corporation to Report Q1, 2024 Results on Apr 30, 2024

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.2042

First National Financial Corporation announced that it expects to receive CAD 199.999998 million in funding

Dividend of CA$0.20 announced

Full year 2023 earnings: EPS misses analyst expectations

Upcoming dividend of CA$0.20 per share

Dividend of CA$0.20 announced

First National Financial Corporation, Annual General Meeting, May 02, 2024

Co-Founder & Executive Chairman recently bought CA$1.0m worth of stock

Upcoming dividend of CA$0.20 per share at 6.1% yield

First National Financial's (TSE:FN) Dividend Will Be CA$0.2042

Dividend of CA$0.20 announced

First National Financial Corporation Announces January Month Dividend, Payable on February 15, 2024

First National Financial Corporation to Report Q4, 2023 Results on Mar 05, 2024

Co-Founder & Executive Chairman recently bought CA$1.3m worth of stock

First National Financial Corporation Announces December Month Dividend, Payable on January 15, 2024

Co-Founder & Executive Chairman recently bought CA$2.0m worth of stock

Upcoming dividend of CA$0.95 per share at 6.4% yield

First National Financial's (TSE:FN) Shareholders Will Receive A Bigger Dividend Than Last Year

Co-Founder & Executive Chairman recently bought CA$4.9m worth of stock

First National Financial (TSE:FN) Is Increasing Its Dividend To CA$0.75

First National Financial Corporation Announces Special Dividend, Payable on December 15, 2023

Co-Founder & Executive Chairman recently bought CA$9.8m worth of stock

Upcoming dividend of CA$0.20 per share at 7.1% yield

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

First National Financial Corporation Announces Dividend for the Period October 1 to October 31, 2023, Payable on November 15, 2023

Co-Founder & Executive Chairman recently bought CA$1.4m worth of stock

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

First National Financial Corporation to Report Q3, 2023 Results on Oct 31, 2023

First National Financial Corporation Announces Monthly Dividend for the Period September 1 to September 30, 2023, Payable on October 16, 2023

First National Financial Corporation announced that it expects to receive CAD 200 million in funding

First National Financial (TSE:FN) Has Affirmed Its Dividend Of CA$0.20

Upcoming dividend of CA$0.20 per share at 6.4% yield

First National Financial Corporation Announces Monthly Dividend for the Period August 1, 2023 to August 31, 2023, Payable on September 15, 2023

Co-Founder & Executive Chairman recently bought CA$1.3m worth of stock

Consensus EPS estimates increase by 26%

Price target increased by 8.4% to CA$42.83

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of CA$0.20 per share at 6.3% yield

First National Financial's (TSE:FN) Dividend Will Be CA$0.20

First National Financial Corporation Announces Monthly Dividend for the Period July 1 to July 31, 2023, Payable on August 15, 2023

First National Financial Corporation to Report Q2, 2023 Results on Aug 01, 2023

First National Financial (TSE:FN) Is Paying Out A Dividend Of CA$0.20

First National Financial Corporation Announces June Dividend, Payable on July 14, 2023

Co-Founder & Executive Chairman recently bought CA$1.4m worth of stock

Upcoming dividend of CA$0.20 per share at 6.0% yield

Co-Founder & Executive Chairman recently bought CA$554k worth of stock

First National Financial Corporation Announces Monthly Dividend for the Period May 1 to May 31, 2023, Payable on June 15, 2023

Co-Founder & Executive Chairman recently bought CA$618k worth of stock

Price target increased by 8.3% to CA$39.33