First American Financial Co. (NYSE:FAF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of First American Financial Co. (NYSE:FAF) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $66.75.

FAF has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial raised their target price on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stephens reissued an “overweight” rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th.

First American Financial Price Performance

Shares of FAF opened at $66.71 on Friday. First American Financial has a 1-year low of $49.55 and a 1-year high of $67.88. The company has a 50-day moving average of $61.76 and a 200 day moving average of $57.80. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 31.92 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $1.35 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that First American Financial will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a $0.54 dividend. The ex-dividend date is Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s payout ratio is presently 103.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FAF. Mather Group LLC. grew its position in shares of First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares during the last quarter. GAMMA Investing LLC grew its position in shares of First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after buying an additional 257 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of First American Financial in the 4th quarter worth approximately $45,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of First American Financial in the 2nd quarter worth approximately $47,000. Finally, Quarry LP grew its position in First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.