First American Financial Corporation (NYSE:FAF) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

First American Financial Corporation (NYSE:FAF) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $82.80.

Several equities research analysts recently commented on FAF shares. Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Benchmark began coverage on shares of First American Financial in a report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price objective on the stock. Truist Financial decreased their price objective on shares of First American Financial from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Barclays dropped their target price on shares of First American Financial from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th.

First American Financial Price Performance

First American Financial stock opened at $65.02 on Tuesday. The stock has a market capitalization of $6.64 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 0.60 and a beta of 1.24. First American Financial has a 12 month low of $56.20 and a 12 month high of $79.87. The business has a 50 day simple moving average of $69.17 and a 200-day simple moving average of $68.54.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $1.53 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts anticipate that First American Financial will post 7.12 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, September 28th. First American Financial’s payout ratio is presently 33.80%.

Insider Transactions at First American Financial

In other First American Financial news, CAO Steven Adams sold 3,253 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer directly owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On First American Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Citizens Bank & Trust Co. purchased a new position in First American Financial in the 3rd quarter valued at $604,000. NorthCrest Asset Manangement LLC acquired a new stake in First American Financial during the 3rd quarter worth $421,000. GAMMA Investing LLC boosted its stake in First American Financial by 19.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,032 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 336 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of First American Financial by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 4,292 shares of the insurance provider’s stock worth $261,000 after buying an additional 367 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of First American Financial by 70.7% during the third quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation (NYSE: FAF) provides title insurance, settlement services and related real estate transaction solutions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in title, liens and other issues affecting ownership or mortgage interests.

The company also offers escrow and closing services, title search and examination, property information, valuation, mortgage subservicing and other technology-enabled solutions for the real estate and mortgage industries.