FY2024 Earnings Forecast for First National Financial Co. Issued By National Bank Financial (TSE:FN)

First National Financial Co. (TSE:FN) – Analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of First National Financial in a research note issued on Tuesday, April 30th. National Bank Financial analyst J. Gloyn now expects that the company will post earnings of $3.83 per share for the year, down from their prior forecast of $3.92. The consensus estimate for First National Financial’s current full-year earnings is $3.93 per share. National Bank Financial also issued estimates for First National Financial’s FY2025 earnings at $4.49 EPS.

First National Financial (TSE:FN) last released its quarterly earnings results on Tuesday, March 5th. The company reported C$0.72 EPS for the quarter, topping the consensus estimate of C$0.22 by C$0.50. The company had revenue of C$199.30 million for the quarter, compared to analyst estimates of C$164.10 million. First National Financial had a return on equity of 35.19% and a net margin of 33.65%.

A number of other brokerages have also issued reports on FN. Royal Bank of Canada dropped their price target on shares of First National Financial from C$43.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their target price on shares of First National Financial from C$41.00 to C$39.00 in a report on Thursday. Scotiabank reduced their price objective on First National Financial from C$45.00 to C$41.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, TD Securities decreased their target price on First National Financial from C$44.00 to C$42.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, First National Financial currently has a consensus rating of “Hold” and an average target price of C$40.17.

First National Financial Stock Performance

TSE FN opened at C$36.39 on Friday. The business’s 50-day moving average price is C$37.65 and its 200 day moving average price is C$38.02. First National Financial has a 52-week low of C$32.86 and a 52-week high of C$41.80. The firm has a market cap of C$2.18 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.70 and a beta of 1.06. The company has a quick ratio of 10.11, a current ratio of 10.29 and a debt-to-equity ratio of 6,070.47.

First National Financial Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.2042 per share. The ex-dividend date of this dividend is Monday, April 29th. This is a boost from First National Financial’s previous monthly dividend of $0.20. This represents a $2.45 annualized dividend and a dividend yield of 6.73%. First National Financial’s payout ratio is currently 59.04%.

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.