Royal Bank of Canada Cuts First National Financial (TSE:FN) Price Target to C$41.00

First National Financial (TSE:FN) had its target price trimmed by Royal Bank of Canada from C$43.00 to C$41.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

FN has been the topic of a number of other research reports. TD Securities increased their price target on First National Financial from C$41.00 to C$44.00 and gave the stock a hold rating in a research note on Thursday, March 7th. Scotiabank increased their price target on First National Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets reduced their price target on First National Financial from C$44.00 to C$41.00 and set a market perform rating on the stock in a research note on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of C$40.83.

First National Financial Price Performance

FN stock opened at C$35.68 on Wednesday. First National Financial has a 1 year low of C$32.86 and a 1 year high of C$41.80. The company has a debt-to-equity ratio of 6,070.47, a quick ratio of 10.11 and a current ratio of 10.29. The stock’s 50 day moving average price is C$37.80 and its 200 day moving average price is C$38.03. The firm has a market cap of C$2.14 billion, a P/E ratio of 8.60, a PEG ratio of 0.70 and a beta of 1.06.

First National Financial (TSE:FN) last posted its earnings results on Tuesday, March 5th. The company reported C$0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.22 by C$0.50. First National Financial had a return on equity of 35.19% and a net margin of 33.65%. The firm had revenue of C$199.30 million for the quarter, compared to analyst estimates of C$164.10 million. On average, sell-side analysts expect that First National Financial will post 3.9252815 earnings per share for the current fiscal year.

First National Financial Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.2042 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 6.87%. This is an increase from First National Financial’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Monday, April 29th. First National Financial’s dividend payout ratio is presently 59.04%.

First National Financial Company Profile

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.