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First National Financial Corp T.FN

Alternate Symbol(s):  FNLIF | T.FN.PR.A | T.FN.PR.B

First National Financial Corporation is a Canada-based parent company of First National Financial LP, which is an originator, underwriter, and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. The Company operates through two segments: Residential and Commercial. The Residential segment include single-family residential mortgages. The Commercial segment include multi-unit residential and commercial mortgages. The Company provides mortgage financing solutions to the residential and commercial mortgage markets in Canada. It provides underwriting and fulfilment processing services to two mortgage originators using the mortgage broker distribution channel. The Company services virtually all mortgages generated through its mortgage origination activities on behalf of a wide range of institutional investors.


TSX:FN - Post by User

Post by retiredcfon Jun 23, 2024 2:46pm
77 Views
Post# 36102384

Assessment

AssessmentFN management is very astute in the financial services industry and we think it is a good income investment. It is fairly small and entirely dependent on mortgages and sensitive to the economy and interest rates, so these are risks to consider. But it is cheap at only 9X earnings, the dividend is attractive and has shown some growth, and it has a decent history of relatively-steady growth. We think it could be added to larger financial stocks for diversification, but we would consider more income focused than growth. (5iResearch)
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