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Security National Financial Corporation (SNFCA)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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8.10+0.14 (+1.82%)
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Neutralpattern detected
Previous Close7.96
Open8.03
Bid8.09 x 800
Ask8.12 x 1100
Day's Range7.89 - 8.15
52 Week Range3.76 - 8.38
Volume13,044
Avg. Volume45,546
Market Cap155.317M
Beta (5Y Monthly)0.86
PE Ratio (TTM)2.89
EPS (TTM)2.81
Earnings DateNov 16, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Security National Financial Corporation Reports Financial Results for the Quarter Ended September 30, 2020
    GlobeNewswire

    Security National Financial Corporation Reports Financial Results for the Quarter Ended September 30, 2020

    SALT LAKE CITY, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the quarter ended September 30, 2020. For the three months ended September 30, 2020, SNFC’s after-tax earnings from operations increased 710.2% from $3,617,000 in 2019 to $29,305,000 in 2020, on a 94.0% increase in revenues to $146,205,000. SNFC’s after tax earnings for the nine months ended September 30, 2020 increased 468.1% to $51,286,000 from $9,028,000 in 2019.Scott M. Quist, President of the Company, said, “For the quarter, revenues increased 94%, profitability increased 700%, and YTD we have a 26% return on equity. I believe our third quarter is the best operational third quarter ever for each of our business segments. Those are spectacular results that have been delivered in difficult circumstances. I applaud the efforts of all our teams in their considerable accomplishment. Every business segment delivered impressive results.“Our mortgage segment has taken great advantage of the circumstances presented this year. The pandemic-created interest rate decline spurred refinance volumes, made purchase transactions more affordable, and provided generally higher margins on the sale of loans for those institutions having the sales, operational, and financial wherewithal to take advantage. Our hardworking staff met the challenge of the more than doubled volumes by increasing efficiency in a very difficult workplace environment, such that costs only increased about 60% - an enviable accomplishment.“Our insurance segment’s operational income reflects similar accomplishment. Our Kilpatrick Life Insurance Company acquisition, which closed last December, has been integrated. Much of that work was accomplished in difficult COVID-related circumstances. While Kilpatrick experienced losses during the first four months of 2020, as was anticipated, it is now profitable and contributing beyond expectations. COVID-related death claims have become more pronounced with death claims increasing about 20% YTD, and for September increasing approximately 65% over September 2019. I don’t know if the 65% number is a fair predictor of the future, but obviously COVID-19 claims are having, and will continue to have, an impact. Lastly, obtaining necessary investment yields within acceptable risk tolerances is becoming more difficult in this low interest rate environment. We do not anticipate those economic circumstances changing over the near term.“Our Memorial segment similarly delivered very solid Q3 and YTD result with revenues increasing 54% for the quarter and operational income increasing 100% YTD. Substantially contributing to those results is increased preneed cemetery sales, but mortuary and cemetery operations were also significant contributors. This excellent performance is not an isolated instance. It is instructive to note that our Memorial segment has achieved an average 24% compound annual growth rate in operational income over the last six years. In my view, such excellent financial results are the natural consequence of continuously providing superb customer care and consumer experience during very difficult times.”SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended September 30, 2020, as compared to 2019, for each of the three business segments: Revenues Earnings before Taxes   2020  2019    2020  2019   Life Insurance$39,261,000 $29,825,000 31.6% $4,807,000 $1,264,000 280.3%              Cemeteries/Mortuaries$5,496,000 $3,570,000 53.9% $1,322,000 $213,000 520.7%              Mortgages$101,448,000 $41,985,000 141.6% $32,455,000 $3,283,000 888.6%              Total$146,205,000 $75,380,000 94.0% $38,584,000 $4,760,000 710.6%                           For the nine months ended September 30, 2020:                         Revenues Earnings before Taxes   2020  2019    2020  2019   Life Insurance$110,255,000 $88,937,000 24.0% $5,408,000 $4,568,000 18.4%              Cemeteries/Mortuaries$14,816,000 $12,473,000 18.8% $2,976,000 $2,422,000 22.9%              Mortgages$219,404,000 $103,909,000 111.2% $58,868,000 $4,826,000 1,119.8%              Total$344,475,000 $205,319,000 67.8% $67,252,000 $11,816,000 469.2%              Net earnings per common share was $1.51 for the three months ended September 30, 2020, compared to net earnings of $0.19 per share for the prior year, as adjusted for the effect of annual stock dividends. Book value per common share was $13.53 as of September 30, 2020, compared to $10.86 as of December 31, 2019.The Company has two classes of common stock outstanding, Class A and Class C. There were 18,919,980 Class A equivalent shares outstanding as of September 30, 2020.If there are any questions, please contact Mr. Garrett S. Sill, Mr. Brian Nelsen or Mr. Scott Quist at:Security National Financial Corporation P.O. Box 57250 Salt Lake City, Utah 84157 Phone (801) 264-1060 Fax (801) 265-9882

  • Do Insiders Own Lots Of Shares In Security National Financial Corporation (NASDAQ:SNFC.A)?
    Simply Wall St.

    Do Insiders Own Lots Of Shares In Security National Financial Corporation (NASDAQ:SNFC.A)?

    If you want to know who really controls Security National Financial Corporation (NASDAQ:SNFC.A), then you'll have to...

  • GlobeNewswire

    Security National Financial Corporation Announces Lease to Inside Real Estate in its Center 53 Campus in Murray, Utah

    SALT LAKE CITY, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Security National Financial Corporation (NASDAQ-SNFCA) is pleased to announce a new lease totaling approximately 5,700 square feet in its Center 53 campus located in Murray, Utah.   Inside Real Estate (“InsideRE”) has leased this space for its company headquarters. Buildout of the space is expected to commence immediately, and occupancy is anticipated to occur in January 2021.Inside Real Estate is a fast-growing, independently owned real estate software firm that serves as a trusted technology partner for over 200,000 top brokerages, agents and teams. Its flagship product, “kvCORE” platform, is the most modern and comprehensive solution in the industry and is known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations and high-quality add-on solutions. With an accomplished leadership team and over 200 employees, Inside Real Estate brings resources, scale and vision to deliver ongoing innovation and success to its growing customer base.Scott Quist, President and Chief Executive Officer for Security National, stated, “Center 53 has proved to be a desirable facility and location due to its quality construction, central location in the Salt Lake valley, and easy access to and from the entire region. Also, during the Covid-19 pandemic we have seen great resiliency in the Salt Lake office market. We believe that our desire to supply “Best-In-Class” offerings will serve to create lasting relationships for the future, despite the current difficulties we are all now facing.”   The addition of Inside Real Estate increases occupancy in Phase 1 of the Center 53 campus to 93% and adds another real estate related firm to the growing campus.This press release contains statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Security National Financial Corporation and its business. The predictions in the statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.For Further Information Contact: Garrett S. Sill or Brian Nelsen Security National Financial Corporation P.O. Box 57220 Salt Lake City, Utah 84157 (Telephone) (801) 264-1060 (Fax) (801) 265-9882 Website: www.securitynational.com