First American Financial Co. (FAF) to Issue Quarterly Dividend of $0.54 on September 27th

First American Financial Co. (NYSE:FAF) announced a quarterly dividend on Tuesday, September 10th, RTT News reports. Stockholders of record on Friday, September 20th will be given a dividend of 0.54 per share by the insurance provider on Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, September 20th. This is a boost from First American Financial’s previous quarterly dividend of $0.53.

First American Financial has increased its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. First American Financial has a payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.05 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 42.0%.

First American Financial Stock Performance

FAF opened at $66.73 on Wednesday. The firm has a market cap of $6.92 billion, a P/E ratio of 31.93 and a beta of 1.29. The business has a 50 day moving average price of $61.27 and a 200 day moving average price of $57.68. First American Financial has a twelve month low of $49.55 and a twelve month high of $67.14.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $1.35 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that First American Financial will post 3.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FAF has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research report on Thursday, July 25th. Barclays decreased their price objective on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Truist Financial increased their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and an average target price of $66.75.

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.