First American Financial Corp. (FAF) Reaches New 1-Year High at $42.78
First American Financial Corp. (NYSE:FAF) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.78 and last traded at $42.52, with a volume of 133,733 shares changing hands. The stock had previously closed at $42.65.
A number of research analysts have recently issued reports on the company. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $45.00 price target (up from $42.00) on shares of First American Financial Corp. in a report on Monday, July 25th. Zacks Investment Research raised First American Financial Corp. from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.00.
The company’s 50 day moving average price is $41.41 and its 200-day moving average price is $38.17. The stock has a market capitalization of $4.66 billion and a P/E ratio of 15.02.
First American Financial Corp. (NYSE:FAF) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that First American Financial Corp. will post $3.00 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, September 6th. This represents a $1.36 annualized dividend and a yield of 3.19%. This is a boost from First American Financial Corp.’s previous quarterly dividend of $0.26.
In other news, Director Mark C. Oman acquired 2,700 shares of First American Financial Corp. stock in a transaction on Thursday, August 18th. The shares were bought at an average cost of $42.08 per share, for a total transaction of $113,616.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
A hedge fund recently bought a new stake in First American Financial Corp. stock. Trexquant Investment LP purchased a new position in shares of First American Financial Corp. (NYSE:FAF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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.