First American Financial (NYSE:FAF) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of First American Financial (NYSE:FAF – Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

Several other research firms have also recently issued reports on FAF. Keefe, Bruyette & Woods increased their price objective on shares of First American Financial from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Barclays increased their price objective on shares of First American Financial from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.00.

Read Our Latest Report on First American Financial

First American Financial Stock Up 0.4%

Shares of NYSE:FAF opened at $61.35 on Friday. First American Financial has a fifty-two week low of $52.39 and a fifty-two week high of $70.92. The firm has a 50-day simple moving average of $58.71 and a 200 day simple moving average of $61.41. The company has a market cap of $6.31 billion, a PE ratio of 40.63 and a beta of 1.22.

First American Financial (NYSE:FAF – Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. First American Financial’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. As a group, research analysts forecast that First American Financial will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.52%. The ex-dividend date was Monday, June 9th. First American Financial’s dividend payout ratio is presently 143.05%.

Institutional Trading of First American Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAF. Parkside Financial Bank & Trust lifted its position in shares of First American Financial by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock valued at $84,000 after acquiring an additional 173 shares in the last quarter. Adams Wealth Management increased its stake in First American Financial by 1.9% in the 1st quarter. Adams Wealth Management now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after buying an additional 207 shares during the period. CacheTech Inc. increased its stake in First American Financial by 1.9% in the 1st quarter. CacheTech Inc. now owns 10,983 shares of the insurance provider’s stock valued at $721,000 after buying an additional 207 shares during the period. American Century Companies Inc. increased its stake in First American Financial by 0.5% in the 1st quarter. American Century Companies Inc. now owns 43,006 shares of the insurance provider’s stock valued at $2,823,000 after buying an additional 229 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in First American Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,510 shares of the insurance provider’s stock valued at $94,000 after buying an additional 230 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

About First American Financial

(Get Free Report)

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.

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