First American Financial Corporation (NYSE:FAF) Sees Significant Increase in Short Interest
by Renee Jackson · The Cerbat GemFirst American Financial Corporation (NYSE:FAF – Get Free Report) saw a large increase in short interest in the month of 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 volume of 987,208 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.7% of the company’s shares are sold short. Currently, 2.7% of the company’s shares are sold short. Based on an average daily volume of 987,208 shares, the days-to-cover ratio is presently 2.7 days.
Institutional Trading of First American Financial
A number of institutional investors have recently added to or reduced their stakes in FAF. V Square Quantitative Management LLC acquired a new position in shares of First American Financial during the fourth quarter worth about $27,000. SJS Investment Consulting Inc. grew its stake in shares of 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 buying an additional 462 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of First American Financial during the 2nd quarter valued at about $35,000. First Horizon Corp acquired a new position in First American Financial during the 3rd quarter worth approximately $37,000. Finally, Atlantic Union Bankshares Corp acquired a new position in First American Financial during the 2nd quarter worth approximately $36,000. 89.05% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on FAF shares. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Truist Financial upped their price objective on shares of First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Barclays dropped their price target on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.
Read Our Latest Stock Report on FAF
First American Financial Stock Performance
Shares of NYSE:FAF traded up $0.71 during trading on Tuesday, reaching $64.66. 902,961 shares of the stock were exchanged, compared to its average volume of 1,074,106. The firm’s 50-day moving average price is $62.92 and its 200 day moving average price is $63.20. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.68 and a beta of 1.27. First American Financial has a 12-month low of $53.09 and a 12-month high of $68.64.
First American Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 9th. First American Financial’s dividend payout ratio (DPR) is currently 47.31%.
First American Financial Company Profile
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.