First American Financial Corp. (FAF) Hits New 52-Week High at $42.78
First American Financial Corp. (NYSE:FAF) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.78 and last traded at $42.52, with a volume of 133,733 shares. The stock had previously closed at $42.65.
Several brokerages have issued reports on FAF. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $45.00 target price (up previously from $42.00) on shares of First American Financial Corp. in a research note on Monday, July 25th. Zacks Investment Research raised shares of First American Financial Corp. from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.00.
The firm’s 50-day moving average is $41.50 and its 200 day moving average is $38.27. The stock has a market cap of $4.67 billion and a PE ratio of 15.06.
First American Financial Corp. (NYSE:FAF) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. First American Financial Corp.’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. Equities analysts expect that First American Financial Corp. will post $3.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 8th will be issued a dividend of $0.34 per share. This is a positive change from First American Financial Corp.’s previous quarterly dividend of $0.26. This represents a $1.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, September 6th.
In related news, Director Mark C. Oman purchased 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average cost of $42.08 per share, with a total value of $113,616.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently bought a new stake in First American Financial Corp. stock. Trexquant Investment LP acquired a new stake in First American Financial Corp. (NYSE:FAF) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 30,400 shares of the company’s stock, valued at approximately $1,091,000.
First American Financial Corporation is a holding company. Through its subsidiaries, the Company is engaged in the business of providing financial services. The Company’s segments include Title Insurance and Services, Specialty Insurance and corporate function. The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally.
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