Zacks Research Equities Analysts Boost Earnings Estimates for First American Financial Co. (NYSE:FAF)

First American Financial Co. (NYSE:FAF) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of First American Financial in a note issued to investors on Wednesday, August 14th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings of $3.88 per share for the year, up from their previous estimate of $3.77. The consensus estimate for First American Financial’s current full-year earnings is $3.88 per share. Zacks Research also issued estimates for First American Financial’s Q4 2024 earnings at $1.01 EPS, Q2 2025 earnings at $1.46 EPS, Q3 2025 earnings at $1.54 EPS and Q4 2025 earnings at $1.46 EPS.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $1.35 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year.

Several other equities analysts also recently commented on the stock. Barclays dropped their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Truist Financial boosted their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stephens reaffirmed an “overweight” rating and issued a $66.00 price target on shares of First American Financial in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on First American Financial from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, First American Financial currently has an average rating of “Moderate Buy” and an average target price of $65.25.

First American Financial Price Performance

Shares of FAF stock traded up $0.38 during trading on Friday, reaching $62.45. The company’s stock had a trading volume of 2,846 shares, compared to its average volume of 660,722. First American Financial has a 1-year low of $49.55 and a 1-year high of $65.54. The stock’s 50-day moving average price is $56.17 and its 200 day moving average price is $56.85. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 29.70 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of First American Financial in the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its stake in First American Financial by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 228 shares during the period. GAMMA Investing LLC purchased a new position in First American Financial during the 4th quarter worth $33,000. Mather Group LLC. increased its stake in First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 334 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of First American Financial in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 annualized dividend and a yield of 3.39%. First American Financial’s dividend payout ratio is presently 101.44%.

About First American Financial

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.