US Bancorp DE Acquires 28,345 Shares of First American Financial Corporation $FAF

US Bancorp DE increased its stake in First American Financial Corporation (NYSE:FAF) by 656.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,666 shares of the insurance provider’s stock after acquiring an additional 28,345 shares during the period. US Bancorp DE’s holdings in First American Financial were worth $2,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FAF. SJS Investment Consulting Inc. increased its position in shares of First American Financial by 2,887.5% during the 3rd 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 last quarter. Elevation Point Wealth Partners LLC purchased a new position in First American Financial during the second quarter worth $35,000. First Horizon Corp bought a new position in First American Financial during the third quarter valued at $37,000. Atlantic Union Bankshares Corp purchased a new stake in shares of First American Financial in the second quarter valued at $36,000. Finally, Tripletail Wealth Management LLC bought a new stake in shares of First American Financial in the 3rd quarter worth about $41,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $81.00 in a research report on Monday. Barclays upped their target price on First American Financial from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods raised their price target on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Finally, Truist Financial boosted their price objective on First American Financial from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

First American Financial Price Performance

FAF stock opened at $69.48 on Thursday. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $71.47. The business has a 50-day moving average price of $64.35 and a 200 day moving average price of $64.04. The company has a market capitalization of $7.08 billion, a P/E ratio of 11.56, a PEG ratio of 0.73 and a beta of 1.25.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 11th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.50. First American Financial had a net margin of 8.34% and a return on equity of 11.92%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts anticipate that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. First American Financial’s dividend payout ratio is presently 36.61%.

Insider Activity

In other First American Financial news, Director Parker S. Kennedy acquired 44,841 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $67.85 per share, for a total transaction of $3,042,461.85. Following the acquisition, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

About First American Financial

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.