First American Financial (NYSE:FAF) Issues 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 net margin of 3.28% and a return on equity of 7.98%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $1.22 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis.

First American Financial Price Performance

First American Financial stock opened at $63.28 on Friday. The firm has a market capitalization of $6.56 billion, a PE ratio of 30.28 and a beta of 1.29. The company’s 50-day moving average is $64.71 and its 200-day moving average is $59.08. First American Financial has a fifty-two week low of $49.55 and a fifty-two week high of $67.88.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 20th. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 3.41%. First American Financial’s payout ratio is currently 103.35%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FAF. Stephens boosted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial boosted their price target on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. Barclays boosted their price target on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

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.