First National Bank of Omaha Makes New Investment in First American Financial Corporation $FAF

First National Bank of Omaha purchased a new stake in First American Financial Corporation (NYSE:FAF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 39,814 shares of the insurance provider’s stock, valued at approximately $2,731,000.

Several other large investors have also recently modified their holdings of FAF. Duncker Streett & Co. Inc. lifted its holdings in shares of First American Financial by 616.4% during the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 376 shares during the period. Global Retirement Partners LLC raised its position in First American Financial by 1,107.5% during the 4th quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 443 shares during the last quarter. Danske Bank A S bought a new position in First American Financial during the 3rd quarter worth $45,000. IFP Advisors Inc lifted its holdings in First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after buying an additional 637 shares during the period. Finally, Advisory Services Network LLC acquired a new position in First American Financial during the 3rd quarter worth about $52,000. Institutional investors own 89.05% of the company’s stock.

Insider Activity

In related news, CAO Steven A. Adams sold 3,253 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at $767,447.66. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FAF shares. Benchmark initiated coverage on First American Financial in a research note on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Wall Street Zen cut First American Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial increased their target price on shares of First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.60.

First American Financial Stock Performance

Shares of FAF opened at $72.50 on Wednesday. The firm has a market cap of $7.40 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.68 and a beta of 1.22. First American Financial Corporation has a 52-week low of $56.20 and a 52-week high of $79.87. The business’s 50 day moving average price is $71.06 and its two-hundred day moving average price is $67.52.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.80 by $0.28. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. Research analysts predict that First American Financial Corporation will post 7.11 EPS for the current fiscal year.

First American Financial Profile

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.