I think the market got the jitters when AFG put out their quarterly Mortgage Index Report for Q1 on 6 Oct. If you go to Table 7, it shows that AFG's share of mortgage origination dropped from 10.39% of the market in Q4 of 2022 to 7.95% in Q1 2023. That is a drop of over 20%. I think that is what has caused the reluctance to push the share price higher. The origination fees and the trailing interest income are the 2 main sources of AFG's revenue, and I think the origination fee revenue might lag the writing of the loans.
So I think the market is waiting to see if the percentage of origination can rebound and if fee revenue can be retained or drops significantly in Q2.
Even if there is a short term drop in earnings, I think the longer term still looks positive.
Cheers Westwind
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Last
$1.42 |
Change
-0.010(0.70%) |
Mkt cap ! $383.1M |
Open | High | Low | Value | Volume |
$1.43 | $1.43 | $1.41 | $150.5K | 106.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 2433 | $1.42 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.42 | 2509 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 2432 | 1.415 |
13 | 14188 | 1.410 |
8 | 12739 | 1.405 |
7 | 9478 | 1.400 |
2 | 2567 | 1.395 |
Price($) | Vol. | No. |
---|---|---|
1.420 | 2509 | 8 |
1.425 | 15540 | 9 |
1.430 | 14196 | 11 |
1.435 | 7009 | 7 |
1.440 | 20008 | 8 |
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