First American Financial Corp (FAF) Shares Bought by Westpac Banking Corp
Westpac Banking Corp boosted its position in shares of First American Financial Corp (NYSE:FAF) by 50.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,845 shares of the company’s stock after buying an additional 5,345 shares during the period. Westpac Banking Corp’s holdings in First American Financial Corp were worth $637,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of First American Financial Corp during the fourth quarter worth $38,884,000. Goldman Sachs Group Inc. boosted its stake in First American Financial Corp by 134.0% in the first quarter. Goldman Sachs Group Inc. now owns 594,315 shares of the company’s stock worth $22,649,000 after buying an additional 340,302 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in First American Financial Corp by 46.6% in the second quarter. JPMorgan Chase & Co. now owns 473,293 shares of the company’s stock worth $19,036,000 after buying an additional 150,433 shares in the last quarter. Fisher Asset Management LLC boosted its stake in First American Financial Corp by 8.0% in the second quarter. Fisher Asset Management LLC now owns 1,497,714 shares of the company’s stock worth $61,901,000 after buying an additional 111,373 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in First American Financial Corp during the second quarter worth approximately $2,997,000. Institutional investors and hedge funds own 86.71% of the company’s stock.
Shares of First American Financial Corp (NYSE:FAF) opened at 39.37 on Wednesday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 13.92 and a beta of 0.65. The firm has a 50-day moving average price of $41.54 and a 200-day moving average price of $39.27. First American Financial Corp has a 52 week low of $31.74 and a 52 week high of $43.55.
First American Financial Corp (NYSE:FAF) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.04. First American Financial Corp had a return on equity of 11.13% and a net margin of 5.88%. The company earned $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that First American Financial Corp will post $3.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, September 6th. This is a positive change from First American Financial Corp’s previous quarterly dividend of $0.26. First American Financial Corp’s payout ratio is 48.23%.
A number of analysts recently commented on the company. Piper Jaffray Cos. reiterated a “neutral” rating and set a $45.00 price objective (up previously from $42.00) on shares of First American Financial Corp in a research report on Monday, July 25th. Zacks Investment Research upgraded First American Financial Corp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. First American Financial Corp has a consensus rating of “Hold” and an average target price of $43.00.
In other First American Financial Corp news, Director Mark C. Oman purchased 2,700 shares of First American Financial Corp stock in a transaction on Thursday, August 18th. The stock was bought at an average price of $42.08 per share, for a total transaction of $113,616.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.
First American Financial Corp Company Profile
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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