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

Posted by Defense World Staff on Oct 31st, 2023

Shares of First American Financial Co. (NYSE:FAF – Get Free Report) have received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $68.25.

Several equities analysts have recently commented on FAF shares. Truist Financial raised their price target on First American Financial from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BTIG Research reaffirmed a “neutral” rating on shares of First American Financial in a research report on Tuesday, July 18th. Stephens reissued an “overweight” rating and issued a $72.00 price objective on shares of First American Financial in a research note on Wednesday, October 11th. Finally, StockNews.com cut First American Financial from a “buy” rating to a “hold” rating in a research report on Friday.

Get Our Latest Analysis on FAF

Hedge Funds Weigh In On First American Financial

A number of large investors have recently made changes to their positions in FAF. Raymond James & Associates grew its stake in First American Financial by 4.6% during the 1st quarter. Raymond James & Associates now owns 62,727 shares of the insurance provider’s stock worth $4,066,000 after buying an additional 2,765 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of First American Financial by 2.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,501 shares of the insurance provider’s stock valued at $681,000 after acquiring an additional 294 shares in the last quarter. American Century Companies Inc. raised its position in shares of First American Financial by 19.7% in the 1st quarter. American Century Companies Inc. now owns 28,814 shares of the insurance provider’s stock valued at $1,868,000 after purchasing an additional 4,736 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in First American Financial by 7.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,725 shares of the insurance provider’s stock worth $241,000 after purchasing an additional 247 shares in the last quarter. Finally, BlackRock Inc. grew its position in First American Financial by 3.3% during the 1st quarter. BlackRock Inc. now owns 9,629,986 shares of the insurance provider’s stock worth $624,215,000 after purchasing an additional 303,214 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

First American Financial Trading Up 1.1 %

Shares of FAF opened at $50.79 on Tuesday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 22.37 and a beta of 1.26. First American Financial has a 12-month low of $48.01 and a 12-month high of $64.66. The firm has a fifty day moving average price of $56.75 and a 200-day moving average price of $57.51.

First American Financial (NYSE:FAF – Get Free Report) last issued its earnings results on Thursday, October 26th. The insurance provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. First American Financial had a net margin of 3.78% and a return on equity of 9.82%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $1.62 earnings per share. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. Analysts predict that First American Financial will post 4.34 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a dividend of $0.53 per share. This is a boost from First American Financial’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.12 dividend on an annualized basis and a yield of 4.17%. First American Financial’s dividend payout ratio is presently 93.39%.

First American Financial Company Profile

(Get Free Report

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