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 trading hands. The stock had previously closed at C$43.18.

Analyst Upgrades and Downgrades

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

First National Financial Price Performance

The firm’s fifty day moving average price is C$40.26 and its 200 day moving average price is C$37.89. 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. The stock has a market cap of C$2.67 billion, a PE 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 given a $0.708 dividend. This represents a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. First National Financial’s dividend payout ratio is presently 64.47%.

Insider Buying and Selling

In other news, insider FNSC Holdings Inc. acquired 25,774 shares of the business’s stock in a transaction on Monday, October 7th. The shares were acquired at an average price of C$38.81 per share, for a total transaction of C$1,000,288.94. Over the last 90 days, insiders have acquired 147,553 shares of company stock worth $6,146,094. Insiders own 71.45% of the company’s stock.

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.