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RFA Financial Inc. Stock: price and insider trades · Canada
RFA Financial Inc.: what insiders have been doing
RFA Financial Inc. belongs to the Finance & Banking sector. Filings by its managers are published through SEDI. 26 insiders have disclosed 116 filings since 18 October 2025.
The record shows 13 purchases on the open market worth €2.0M, made by 5 insiders, against 3 sales worth €7.2M by 1 insider. Netting one side against the other leaves €5.2M of net selling. Buying on the open market means paying the going price with one's own funds, a different act from receiving shares as pay. One trade stands out by size: a sale of €5.9M from Manji, Samir Aziz, disclosed on 23 September 2026, or 0.82% of market capitalisation. Those buying include 5 senior executives.
The most recent open-market purchase was published on 8 September 2026, 39 days ago. Filings reach the SEDI feed a median of 4 days after the trade. Until a filing is published, the market cannot know about the trade.
For context, the typical company on the same exchange (median of 2,144 companies) published 12 filings over the same period, against 116 filings here. Looking back to 2026, when coverage begins, insiders filed 13 purchases and 3 sales.
For comparison within the same sector, see the insider buying recorded at First Guaranty Bancshares, Inc. and BCB Bancorp Inc. This summary is built from SEDI disclosures alone and does not predict where the share price will go.
Insider Decl.
130
Thresholds
n/a
Buy Volume
€2M
13 ops. · all time
Sell Volume
€7M
3 ops. · all time
Who traded when
BuySaleSamir Aziz Manji8 buys3 sales
Salim Manji8 buys2 sales
Jacqueline Crysler Moss2 buys
Navdeep Kaur Gill2 sales
Sandpiper Asset Management Inc.2 sales
Mario Causarano1 buy
+2 other insiders
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 17,826 of 24,148 companies
35.6
score / 100
Value42
Quality30
FCF yld6.1%
Earn yld-14%
EV/EBITDA·
ROE-13%
Gross mgn51%
Net mgn-65%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
CA$23.93
Analyst consensus
Income statement
RevenueCA$240.3M
Gross profitCA$121.8M51% margin
EBITDA-CA$88.9M-37% margin
Net income-CA$155.7M-67.0% margin
Valuation
P/Book0.8x
Beta0.56
Balance sheet & cash
Market capCA$1.1B
Total debtCA$983.6M
Free Cash FlowCA$66.8M
Debt / Equity85%
Profitability & ownership
ROE-13.3%
ROA1.6%
% insiders35.0%
% institutions28.3%
Last declaration on 16 October 2026
Declarations130 total
12 shares@ CA$23.630.0000% mcap0.1% of flowRights (Deferred Share Units)TSXSEDI:4792329
2,082 shares@ CA$23.630.0045% mcap50.6% of flowRights (Restricted Share Units)TSXSEDI:4792328
1,677 shares@ CA$23.630.0036% mcap0.3% of flowRights (Restricted Share Units)TSXSEDI:4792327
833 shares@ CA$23.630.0018% mcap50.6% of flowRights (Restricted Share Units)TSXSEDI:4792326
545 shares@ CA$23.630.0012% mcap50.6% of flowRights (Restricted Share Units)TSXSEDI:4792325
231 shares@ CA$23.630.0005% mcap50.6% of flowRights (Restricted Share Units)TSXSEDI:4792323
534 shares@ CA$23.630.0012% mcap50.6% of flowRights (Restricted Share Units)TSXSEDI:4792322
104 shares@ CA$23.630.0002% mcap50.7% of flowRights (Restricted Share Units)TSXSEDI:4792321
42 shares@ CA$23.630.0001% mcap50.9% of flowRights (Restricted Share Units)TSXSEDI:4792320
63 shares@ CA$23.630.0001% mcap50.4% of flowRights (Restricted Share Units)TSXSEDI:4792319
63 shares@ CA$23.630.0001% mcap50.4% of flowRights (Restricted Share Units)TSXSEDI:4792318
104 shares@ CA$23.630.0002% mcap50.7% of flowRights (Restricted Share Units)TSXSEDI:4792317
42 shares@ CA$23.630.0001% mcap1.7% of flowRights (Deferred Share Units)TSXSEDI:4792316
52 shares@ CA$23.630.0001% mcap0.7% of flowRights (Deferred Share Units)TSXSEDI:4792313
75 shares@ CA$23.630.0002% mcap1.7% of flowRights (Deferred Share Units)TSXSEDI:4792308
29 shares@ CA$23.630.0001% mcap1.7% of flowRights (Deferred Share Units)TSXSEDI:4792307
10 shares@ CA$23.630.0000% mcap0.4% of flowRights (Deferred Share Units)TSXSEDI:4792305
10 shares@ CA$23.630.0000% mcap0.2% of flowRights (Deferred Share Units)TSXSEDI:4792303
52 shares@ CA$23.630.0001% mcap1.7% of flowRights (Deferred Share Units)TSXSEDI:4792300
58 shares@ CA$23.630.0001% mcap1.7% of flowRights (Deferred Share Units)TSXSEDI:4792265
10 shares@ CA$23.630.0000% mcap1.3% of flowRights (Deferred Share Units)TSXSEDI:4792262
15 shares@ CA$23.630.0000% mcap1.4% of flowRights (Deferred Share Units)TSXSEDI:4792258
42,900 shares@ CA$23.68590.093% mcap5.2% of flowCommon SharesTSXSEDI:4792017
24,000 shares@ CA$23.91230.053% mcap3.1% of flowCommon SharesTSXSEDI:4790202
▼
Same trade as the filing by Samir Aziz Manji, counted once · View ↗
16,559 shares@ CA$25.250.039% mcap4.2% of flowCommon SharesTSXSEDI:4790152
25 of 130 declarations
About RFA Financial Inc.
RFA Financial Inc. (TSX: RFA) is a Canadian financial services company listed on the TSX/TSXV market in Canada, created through the combination of RFA Capital Holdings Inc. and Artis REIT, which closed in February 2026. For investors, the company represents a hybrid platform that brings together a federally regulated Schedule I bank, residential mortgage origination and lending, and a real estate investment/asset-management component. That mix gives RFA a differentiated profile in the Canadian market, sitting between specialty finance and real estate-backed investing. ([newswire.ca](https://www.newswire.ca/news-releases/artis-and-rfa-capital-complete-arrangement-transaction-812810339.html))
RFA traces its roots to 1996 and is based in Toronto, Ontario. It began as a Canadian-owned real estate investment firm focused on commercial and asset-management activities, with exposure to debt financing transactions, REITs, and direct investments across office, retail, industrial and multifamily residential properties. Over time, the group expanded into residential lending in 2018 and then accelerated that strategy with the acquisition of Street Capital Bank of Canada in 2019, building presence in both Prime and Alternative lending segments. Its head office is located at 145 King Street in Toronto, reinforcing its domestic focus and Canadian operating footprint. ([rfa.ca](https://rfa.ca/about))
Read moreShow less
The core business today is anchored by RFA Bank of Canada and RFA Mortgage Corporation, which operate the group’s residential mortgage lending platform. RFA Bank of Canada is a federally regulated Schedule I bank and a member of the CDIC, while the mortgage platform serves borrowers and broker partners through residential mortgage products and related servicing. The bank also offers GICs through a network of CIRO-regulated deposit dealers. Alongside the lending businesses, RFA retains a real estate and asset-management orientation, with exposure to commercial and residential real estate assets. ([rfa.ca](https://rfa.ca/about))
In competitive terms, RFA Financial stands out as a specialist rather than a universal financial institution. Its positioning is built on three pillars: a regulated bank platform, a mortgage origination engine, and real-estate-backed investment expertise. That combination can be attractive in Canada because it allows the group to serve borrowers across different credit profiles while maintaining a disciplined underwriting approach and a tangible-asset perspective. Compared with larger banks, RFA is smaller and more focused; compared with non-bank lenders, it benefits from a bank charter and deposit capabilities. ([newswire.ca](https://www.newswire.ca/news-releases/artis-real-estate-investment-trust-and-rfa-capital-rfa-agree-to-combine-to-form-rfa-financial-through-a-share-exchange-transaction-810574245.html))
Recent milestones have been material. The Artis transaction transformed RFA into a public issuer and brought the common shares to the TSX under ticker RFA, with preferred shares also listed. In February 2026, RFA announced qualification to trade on OTCQX in the U.S., expanding access for American investors. The latest press flow also points to ongoing strategic execution and integration following the combination, which should remain a key watchpoint for investors assessing scale, profitability mix, and capital allocation over time. Overall, RFA Financial is best viewed as a Canadian real-estate-linked financial services platform with a bank-led operating model and a growing public-market profile. ([newswire.ca](https://www.newswire.ca/news-releases/artis-and-rfa-capital-complete-arrangement-transaction-812810339.html))
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