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
$1.66 |
Change
0.035(2.15%) |
Mkt cap ! $449.4M |
Open | High | Low | Value | Volume |
$1.63 | $1.66 | $1.63 | $208.9K | 127.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5873 | $1.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.66 | 3386 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5873 | 1.650 |
1 | 622 | 1.645 |
1 | 622 | 1.640 |
3 | 1932 | 1.635 |
1 | 622 | 1.630 |
Price($) | Vol. | No. |
---|---|---|
1.675 | 825 | 1 |
1.680 | 23202 | 5 |
1.685 | 5766 | 2 |
1.690 | 5863 | 4 |
1.695 | 766 | 1 |
Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
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