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
-0.005(0.35%) |
Mkt cap ! $383.1M |
Open | High | Low | Value | Volume |
$1.41 | $1.43 | $1.41 | $560.3K | 395.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9 | $1.42 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.43 | 1696 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 9 | 1.415 |
2 | 2558 | 1.410 |
1 | 2867 | 1.395 |
4 | 11524 | 1.390 |
2 | 8800 | 1.385 |
Price($) | Vol. | No. |
---|---|---|
1.430 | 1696 | 1 |
1.440 | 7043 | 2 |
1.450 | 19151 | 5 |
1.465 | 2090 | 1 |
1.470 | 3000 | 1 |
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