Builders Capital Mortgage Corp.
Pleasantly Surprised by Q3 Results
Published: 12/1/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Financial Services | Industry: Mortgage Finance
Ticker Symbols:BCF - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | US $8.75 |
| Fair Value | US $10.01 |
| Risk | 3 |
| 52 Week Range | US $8.07-9.75 |
| Shares O/S (M) | 3.17 |
| Market Cap. (M) | US $28 |
| Current Yield (%) | 9.1 |
| P/E (forward) | 10.9 |
| P/B | 0.94x |
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Report Highlights
Highlights
Q3 was in line with our expectations. BCF reported record revenue (up 28% YoY) amid higher mortgages outstanding, and lending rates. EPS was up 17% YoY.
Mortgages outstanding (net) were up 1% QoQ to $36M – the highest in BCF’s history.
We believe the risk profile of BCF's portfolio remains stable, with no notable changes in first mortgages, property types, or geographical diversification.
BCF also experienced no mater
