Short Interest in First American Financial Corporation (NYSE:FAF) Expands By 24.7%

First American Financial Corporation (NYSE:FAF) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 2,653,192 shares, an increase of 24.7% from the December 31st total of 2,127,545 shares. Based on an average daily trading volume, of 987,208 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.7% of the shares of the stock are short sold. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 987,208 shares, the days-to-cover ratio is currently 2.7 days.

Hedge Funds Weigh In On First American Financial

Several large investors have recently modified their holdings of FAF. Jones Financial Companies Lllp boosted its position in shares of First American Financial by 121.3% during the first quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock valued at $97,000 after buying an additional 813 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of First American Financial by 10.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,058 shares of the insurance provider’s stock worth $19,233,000 after acquiring an additional 28,666 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in First American Financial by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 414,146 shares of the insurance provider’s stock valued at $27,180,000 after acquiring an additional 27,600 shares during the period. Jane Street Group LLC grew its position in First American Financial by 182.5% in the 1st quarter. Jane Street Group LLC now owns 67,572 shares of the insurance provider’s stock valued at $4,435,000 after acquiring an additional 43,651 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in First American Financial by 11.3% in the first quarter. Focus Partners Wealth now owns 4,282 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 435 shares during the period. Institutional investors own 89.05% of the company’s stock.

Analyst Ratings Changes

FAF has been the subject of a number of research reports. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Barclays decreased their price target on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Truist Financial raised their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Finally, Stephens assumed coverage on First American Financial in a report on Friday, November 14th. They set an “equal weight” rating for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.75.

First American Financial Price Performance

Shares of First American Financial stock traded up $0.71 during trading hours on Tuesday, reaching $64.66. The company’s stock had a trading volume of 902,961 shares, compared to its average volume of 1,074,106. The firm has a 50 day moving average price of $62.92 and a 200-day moving average price of $63.20. The stock has a market cap of $6.59 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.68 and a beta of 1.27. First American Financial has a one year low of $53.09 and a one year high of $68.64.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. First American Financial’s dividend payout ratio is 47.31%.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.