First National Financial (TSE:FN) Shares Cross Below 200 Day Moving Average Following Analyst Downgrade

First National Financial Co. (TSE:FN)’s share price passed below its two hundred day moving average during trading on Wednesday after TD Securities lowered their price target on the stock from C$45.00 to C$41.00. The stock has a two hundred day moving average of C$40.54 and traded as low as C$37.04. TD Securities currently has a buy rating on the stock. First National Financial shares last traded at C$37.44, with a volume of 226,886 shares.

A number of other research analysts also recently issued reports on FN. Scotiabank reduced their price objective on First National Financial from C$44.00 to C$42.00 and set a “sector perform” rating for the company in a research note on Thursday. CIBC decreased their price target on First National Financial from C$44.00 to C$41.00 and set a “neutral” rating on the stock in a research report on Thursday. National Bankshares reduced their target price on First National Financial from C$43.00 to C$39.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of First National Financial from C$41.00 to C$42.00 in a report on Thursday, March 6th.

Insider Activity at First National Financial

In related news, insider FNSC Holdings Inc. purchased 24,796 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of C$40.34 per share, for a total transaction of C$1,000,270.64. 71.45% of the stock is currently owned by corporate insiders.

First National Financial Price Performance

The company’s fifty day moving average is C$39.20 and its 200-day moving average is C$40.52. The company has a market capitalization of C$2.24 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04.

First National Financial Dividend Announcement

The firm also recently declared a apr 25 dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2083 dividend. First National Financial’s dividend payout ratio is presently 79.78%.

First National Financial Company Profile

First National Financial Corp is the parent company of First National Financial LP, a Canadian originator, underwriter, and servicer of predominantly prime residential and commercial mortgages. The company controls its First National Mortgage Investment Fund, which manages economic exposure to a diversified portfolio of primarily commercial mezzanine mortgages.