First American Financial (NYSE:FAF) Stock Breaks Above Two Hundred Day Moving Average – Here’s Why

First American Financial Corporation (NYSE:FAF) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $67.43 and traded as high as $68.45. First American Financial shares last traded at $67.6280, with a volume of 1,211,906 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark started coverage on First American Financial in a research note on Tuesday, July 21st. They set a “buy” rating and a $85.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Truist Financial reduced their price objective on First American Financial from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Barclays lowered their price objective on First American Financial from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a report on Friday, October 16th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

First American Financial Trading Up 4.1%

The firm’s 50 day moving average price is $67.19 and its 200-day moving average price is $67.43. The company has a market cap of $6.90 billion, a P/E ratio of 9.53 and a beta of 1.22.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 21st. The insurance provider reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. First American Financial had a net margin of 9.05% and a return on equity of 13.41%. During the same period last year, the company earned $1.84 earnings per share. Analysts predict that First American Financial Corporation will post 6.94 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.6%. This is a boost from First American Financial’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, December 8th. First American Financial’s dividend payout ratio is currently 34.37%.

Institutional Investors Weigh In On First American Financial

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in First American Financial by 9.6% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 148 shares during the last quarter. Equitable Trust Co. increased its position in shares of First American Financial by 2.3% during the 1st quarter. Equitable Trust Co. now owns 6,980 shares of the insurance provider’s stock worth $421,000 after purchasing an additional 160 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of First American Financial by 70.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Lido Advisors LLC raised its stake in shares of First American Financial by 5.8% during the 3rd quarter. Lido Advisors LLC now owns 4,171 shares of the insurance provider’s stock worth $253,000 after purchasing an additional 229 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of First American Financial by 6.7% in the 1st quarter. Sanctuary Advisors LLC now owns 3,956 shares of the insurance provider’s stock valued at $239,000 after buying an additional 248 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.