First American Corporation (The) (FAF) Declares Quarterly Dividend of $0.38
First American Corporation (The) (NYSE:FAF) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Stockholders of record on Friday, September 8th will be given a dividend of 0.38 per share by the insurance provider on Friday, September 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from First American Corporation (The)’s previous quarterly dividend of $0.34.
First American Corporation (The) has raised its dividend payment by an average of 35.7% annually over the last three years and has increased its dividend every year for the last 5 years. First American Corporation (The) has a payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First American Corporation (The) to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 37.2%.
First American Corporation (NYSE:FAF) traded up 1.01% during midday trading on Wednesday, hitting $49.03. The stock had a trading volume of 271,505 shares. First American Corporation has a 52 week low of $35.28 and a 52 week high of $49.48. The company has a 50-day moving average price of $46.51 and a 200-day moving average price of $42.11. The stock has a market cap of $5.43 billion, a P/E ratio of 14.86 and a beta of 0.73.
First American Corporation (The) (NYSE:FAF) last posted its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.18. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.41 billion. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. Equities analysts expect that First American Corporation will post $3.46 EPS for the current year.
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A number of analysts recently issued reports on FAF shares. Zacks Investment Research raised First American Corporation (The) from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Monday, May 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 price target on shares of First American Corporation (The) in a report on Wednesday, April 19th. Finally, BidaskClub raised First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th.
First American Corporation (The) Company Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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