First American Financial (NYSE:FAF) Sets New 52-Week High – Still a Buy?

First American Financial Co. (NYSE:FAF)’s stock price hit a new 52-week high on Thursday . The company traded as high as $67.98 and last traded at $67.98, with a volume of 102 shares. The stock had previously closed at $67.59.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FAF shares. Truist Financial raised their target price on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stephens restated an “overweight” rating and set a $66.00 target price on shares of First American Financial in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Barclays raised their target price on shares of First American Financial from $61.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

First American Financial Stock Performance

The business’s 50 day moving average is $64.44 and its 200 day moving average is $58.95. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 32.00 and a beta of 1.29.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $1.35 EPS. The company’s revenue was down 2.1% on a year-over-year basis. Research analysts expect that First American Financial Co. will post 3.89 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a $0.54 dividend. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a yield of 3.23%. First American Financial’s dividend payout ratio (DPR) is currently 103.35%.

Institutional Investors Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. boosted its stake in shares of First American Financial by 1.1% during the 3rd quarter. ST Germain D J Co. Inc. now owns 228,261 shares of the insurance provider’s stock valued at $15,068,000 after buying an additional 2,521 shares during the period. Blue Trust Inc. boosted its stake in shares of First American Financial by 214.2% during the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the insurance provider’s stock valued at $67,000 after buying an additional 696 shares during the period. Bar Harbor Wealth Management boosted its stake in shares of First American Financial by 31.2% during the 3rd quarter. Bar Harbor Wealth Management now owns 67,303 shares of the insurance provider’s stock valued at $4,443,000 after buying an additional 16,015 shares during the period. Sentry LLC acquired a new stake in shares of First American Financial during the 3rd quarter valued at $243,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of First American Financial during the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

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.