First American Financial Corporation (NYSE:FAF) Short Interest Update

First American Financial Corporation (NYSE:FAF) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,653,192 shares, an increase of 24.7% from the December 31st total of 2,127,545 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 987,208 shares, the short-interest ratio is presently 2.7 days. Based on an average daily volume of 987,208 shares, the short-interest ratio is presently 2.7 days. Approximately 2.7% of the shares of the company are sold short.

First American Financial Stock Performance

Shares of NYSE FAF traded up $0.71 during trading on Tuesday, hitting $64.66. The company had a trading volume of 902,961 shares, compared to its average volume of 1,074,106. First American Financial has a 12 month low of $53.09 and a 12 month high of $68.64. The firm has a market capitalization of $6.59 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 0.68 and a beta of 1.27. The stock has a 50 day simple moving average of $62.92 and a 200 day simple moving average of $63.20.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. First American Financial’s dividend payout ratio is 47.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FAF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research note on Friday, December 26th. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 14th. Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Barclays cut their price target on First American Financial from $71.00 to $68.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 6th. Finally, Truist Financial increased their price objective on shares of First American Financial from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FAF. V Square Quantitative Management LLC purchased a new stake in First American Financial in the 4th quarter worth $27,000. SJS Investment Consulting Inc. boosted its stake in shares of First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 462 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of First American Financial during the second quarter worth about $35,000. Atlantic Union Bankshares Corp purchased a new stake in shares of First American Financial during the second quarter worth about $36,000. Finally, First Horizon Corp bought a new stake in First American Financial during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.