First American Financial (NYSE:FAF) Announces Quarterly Earnings Results

First American Financial (NYSE:FAF) issued its quarterly earnings results on Wednesday. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19, Briefing.com reports. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis.

First American Financial Stock Up 0.2 %

Shares of First American Financial stock opened at $63.91 on Friday. The firm has a market cap of $6.63 billion, a PE ratio of 30.58 and a beta of 1.29. First American Financial has a 52 week low of $49.55 and a 52 week high of $67.88. The business’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $59.06.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a dividend of $0.54 per share. This is a boost from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, September 20th. This represents a $2.16 annualized dividend and a yield of 3.38%. First American Financial’s dividend payout ratio (DPR) is 103.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FAF. Stephens restated an “overweight” rating and set a $66.00 price target on shares of First American Financial in a research report on Thursday, July 25th. Truist Financial increased their price target on First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays boosted their price objective on First American Financial from $61.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.