First American Financial (NYSE:FAF) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of First American Financial (NYSE:FAF) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Stephens began coverage on shares of First American Financial in a research report on Friday, November 14th. They set an “equal weight” rating on the stock. Barclays upped their price objective on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Finally, Truist Financial boosted their target price on First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.00.

First American Financial Trading Down 0.7%

FAF stock opened at $63.92 on Friday. First American Financial has a 12-month low of $53.09 and a 12-month high of $68.64. The business’s 50-day moving average is $62.75 and its 200 day moving average is $62.20. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 13.75 and a beta of 1.27.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $1.34 earnings per share. The business’s quarterly revenue was up 40.7% compared to the same quarter last year. As a group, equities analysts forecast that First American Financial will post 5.35 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. First American Financial’s dividend payout ratio is 47.31%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its position in First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 462 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of First American Financial during the 2nd quarter worth about $35,000. Atlantic Union Bankshares Corp acquired a new stake in shares of First American Financial during the 2nd quarter worth about $36,000. First Horizon Corp purchased a new stake in First American Financial in the 3rd quarter valued at about $37,000. Finally, Tripletail Wealth Management LLC acquired a new position in First American Financial in the third quarter valued at about $41,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Company Profile

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.