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Home Capital Buys Back $300 Million In Shares Following Q3 Earnings
Author:
Steve Huebl
Publication date:
November 16, 2022
Article Summary:
Alternative-lender Home Capital has announced a share-buyback of up to $300 million following its Q3 earnings report, which saw residential mortgage originations rise 34% compared to the previous year. Home Capital CEO Yousry Bissada said demand for housing is exceeding supply, and the share buyback aims to optimize capital. Despite anticipated interest rate hikes, Bissada said the B-20 stress test provides some affordability cushion against higher rates. Home Capital also plans to renew its normal-course issuer bid and may contemplate the resumption of a quarterly dividend after share repurchases.
Keywords:
Home Capital, share-buyback, Q3 earnings, pandemic-related restrictions, OSFI, federally regulated financial institutions, dividend payments, executive compensation, housing demand, residential mortgage originations, B-20 stress test, net income, total originations, loans under administration, net interest margin, non-performing loans, credit losses, future interest rate increases, healthy housing market, single-family mortgage originations, NCIB, quarterly dividend, loan-loss reversals, net interest margin.
Source Citation:
Steve Huebl
Home Capital Buys Back $300 Million In Shares Following Q3 Earnings
November 16, 2022
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