First American Financial Co. (NYSE:FAF) Declares $0.54 Quarterly Dividend

First American Financial Co. (NYSE:FAF) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.54 per share by the insurance provider on Monday, March 17th. This represents a $2.16 annualized dividend and a yield of 3.49%.

First American Financial has increased its dividend by an average of 3.3% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. First American Financial has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.32 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 40.6%.

First American Financial Stock Performance

FAF opened at $61.81 on Thursday. The business has a 50 day moving average price of $64.43 and a 200 day moving average price of $63.22. First American Financial has a twelve month low of $51.60 and a twelve month high of $70.92. The firm has a market cap of $6.37 billion, a P/E ratio of 69.45 and a beta of 1.33.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 EPS. As a group, analysts anticipate that First American Financial will post 4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stephens lifted their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price objective on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.