First National Financial Corp on Focus After Gap Down In Today’s Session

 First National Financial Corp on Focus After Gap Down In Today's Session

The stock of First National Financial Corp (TSE:FN) gapped down by $0.05 today and has $23.33 target or 7.00% below today’s $25.09 share price. The 7 months technical chart setup indicates high risk for the $1.50B company. The gap down was reported on Oct, 28 by Barchart.com. If the $23.33 price target is reached, the company will be worth $105.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 12,844 shares traded hands. First National Financial Corp (TSE:FN) has declined 1.83% since March 23, 2016 and is downtrending. It has underperformed by 6.54% the S&P500.

First National Financial Corp (TSE:FN) Ratings Coverage

Out of 3 analysts covering First National (TSE:FN), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. $32 is the highest target while $21 is the lowest. The $27.75 average target is 10.60% above today’s ($25.09) stock price. First National has been the topic of 13 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by National Bank Canada to “Sector Perform” on Friday, October 2. On Wednesday, July 20 the stock rating was downgraded by RBC Capital Markets to “Underperform”. The firm has “Underperform” rating given on Wednesday, October 26 by RBC Capital Markets. National Bank Canada upgraded the stock to “Outperform” rating in Tuesday, July 28 report.

More important recent First National Financial Corp (TSE:FN) news were published by: Reuters.com which released: “BRIEF-First National Financial Corp reports Q3 2016 results” on September 29, 2016, also Forbes.com published article titled: “First National Financial (FN) Shares Cross 6% Yield Mark {{article.article.title}}”, Bloomberg.com published: “First National Sees Hit to Net Income on Canada Housing Rules” on October 06, 2016. More interesting news about First National Financial Corp (TSE:FN) was released by: Fool.ca and their article: “First National Financial Corp. Gets a 20% Haircut” with publication date: October 10, 2016.

First National Financial Corporation is a Canada parent firm of First National Financial LP , which is an originator, underwriter and servicer of prime residential (single-family and multi-unit) and commercial mortgages. The company has a market cap of $1.50 billion. The Firm operates through two divisions: Residential (which includes single-family residential mortgages) and Commercial (which includes multi-unit residential and commercial mortgages). It has a 9.1 P/E ratio. The Firm provides mortgage-financing solutions to the mortgage market in Canada.

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