First American Financial (NYSE:FAF) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

First American Financial (NYSE:FAF) released its earnings results on Wednesday. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18, Briefing.com reports. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS.

First American Financial Stock Performance

First American Financial stock opened at $63.82 on Thursday. First American Financial has a one year low of $49.55 and a one year high of $67.88. The company has a 50-day simple moving average of $64.65 and a 200-day simple moving average of $59.02. The firm has a market capitalization of $6.62 billion, a P/E ratio of 30.54 and a beta of 1.29.

First American Financial Increases Dividend

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

Analysts Set New Price Targets

FAF has been the subject of several recent analyst reports. Truist Financial raised their price objective 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 reiterated an “overweight” rating and issued a $66.00 price target on shares of First American Financial in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays lifted their target price on First American Financial from $61.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, First American Financial has an average rating of “Moderate Buy” and an average price target of $69.00.

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.