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
$1.35 |
Change
-0.060(4.26%) |
Mkt cap ! $365.5M |
Open | High | Low | Value | Volume |
$1.42 | $1.42 | $1.35 | $375.4K | 273.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 42435 | $1.35 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.36 | 4923 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 42435 | 1.350 |
1 | 1048 | 1.345 |
3 | 5148 | 1.340 |
1 | 1048 | 1.335 |
2 | 6700 | 1.330 |
Price($) | Vol. | No. |
---|---|---|
1.360 | 4923 | 1 |
1.365 | 26904 | 3 |
1.370 | 1572 | 1 |
1.415 | 8000 | 1 |
1.420 | 18756 | 3 |
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