First National Financial (TSE:FN) Reaches New 52-Week High – Here’s Why

First National Financial Co. (TSE:FN)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$43.64 and last traded at C$43.64, with a volume of 44020 shares. The stock had previously closed at C$43.18.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FN. National Bankshares upped their price objective on shares of First National Financial from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Scotiabank increased their price target on shares of First National Financial from C$41.00 to C$44.00 in a research report on Wednesday, July 24th. CIBC upped their price objective on shares of First National Financial from C$40.00 to C$44.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, TD Securities upped their price objective on shares of First National Financial from C$42.00 to C$46.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$42.67.

First National Financial Trading Up 1.1 %

The company’s fifty day moving average is C$40.26 and its two-hundred day moving average is C$37.89. The company has a debt-to-equity ratio of 6,280.61, a quick ratio of 10.11 and a current ratio of 8.92. The company has a market cap of C$2.67 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.70 and a beta of 1.04.

First National Financial Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.708 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a yield of 1.71%. First National Financial’s dividend payout ratio (DPR) is presently 64.47%.

Insider Buying and Selling

In other news, insider FNSC Holdings Inc. acquired 16,565 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of C$39.24 per share, with a total value of C$650,010.60. In the last quarter, insiders have acquired 147,553 shares of company stock worth $6,146,094. 71.45% of the stock is owned by company insiders.

About First National Financial

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.