04:49:20 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Home Capital Group Inc
Symbol HCG
Shares Issued 64,203,769
Close 2017-04-21 C$ 19.25
Market Cap C$ 1,235,922,553
Recent Sedar Documents

FP says Home Capital Group posts "robust" Q1 results

2017-04-24 06:46 ET - In the News

The Financial Post reports in its Saturday, April 22, edition that embattled mortgage lender Home Capital Group moved to reassure investors Friday, releasing unexpectedly strong preliminary results and vowing to "vigorously defend" itself against allegations of misleading disclosure levelled by the Ontario Securities Commission two days earlier. The Post's Armina Ligaya writes that Home Capital said Friday it expects to report first quarter earnings of $1.02 on an adjusted diluted earnings per share basis, compared with 96 cents a year ago. Those preliminary, unaudited figures are above analysts' estimates of 96.1 cents per share. Home Capital said the increase in earnings per share was "driven by strong results in the company's core residential mortgage business and progress made in improving mortgage discharges" as well as "strides on expense savings." On Thursday the OSC accused Home Capital of misleading disclosure in connection with the company's discovery of falsified income information on some loan applications and the subsequent cutting of ties with dozens of brokers in 2014. Home Capital said on Friday that these preliminary, unaudited first quarter numbers show that the "business is robust."

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