CIBC Forecasts Strong Price Appreciation for First National Financial (TSE:FN) Stock

First National Financial (TSE:FN) had its target price upped by equities researchers at CIBC from C$40.00 to C$44.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 8.37% from the company’s current price.

Separately, Scotiabank increased their price objective on First National Financial from C$41.00 to C$44.00 in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$42.67.

First National Financial Stock Performance

Shares of TSE FN opened at C$40.60 on Wednesday. The stock’s fifty day simple moving average is C$38.75 and its 200 day simple moving average is C$37.39. The stock has a market capitalization of C$2.43 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 0.70 and a beta of 1.04. The company has a quick ratio of 10.11, a current ratio of 8.92 and a debt-to-equity ratio of 6,280.61. First National Financial has a 52-week low of C$34.54 and a 52-week high of C$42.74.

First National Financial (TSE:FN) last announced its earnings results on Tuesday, July 30th. The company reported C$0.89 EPS for the quarter, missing the consensus estimate of C$0.93 by C($0.04). The firm had revenue of C$205.45 million during the quarter, compared to analyst estimates of C$227.10 million. First National Financial had a return on equity of 30.22% and a net margin of 32.60%. As a group, sell-side analysts forecast that First National Financial will post 4.0243655 earnings per share for the current fiscal year.

Insider Activity at First National Financial

In other First National Financial 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 cost of C$39.24 per share, for a total transaction of C$650,010.60. 71.45% of the stock is currently owned by company insiders.

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.