First American Financial Corporation (NYSE:FAF) Stock Has Consensus Target Price of $81.60 According to Brokerages

First American Financial Corporation (NYSE:FAF) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $81.60.

A number of brokerages have commented on FAF. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Friday, October 16th. Barclays reduced their price objective on First American Financial from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial dropped their price target on First American Financial from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Finally, Benchmark assumed coverage on shares of First American Financial in a report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target on the stock.

First American Financial Price Performance

Shares of NYSE:FAF opened at $66.91 on Friday. First American Financial has a fifty-two week low of $56.20 and a fifty-two week high of $79.87. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 9.42 and a beta of 1.22. The business’s fifty day moving average price is $66.93 and its two-hundred day moving average price is $67.49.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, October 21st. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.07). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. First American Financial had a return on equity of 13.41% and a net margin of 9.05%. During the same quarter in the previous year, the business posted $1.84 EPS. Research analysts expect that First American Financial will post 6.94 EPS for the current fiscal year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a $0.61 dividend. This is an increase from First American Financial’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 8th. First American Financial’s dividend payout ratio is 34.37%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC grew its stake in shares of First American Financial by 70.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 437 shares of the insurance provider’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Root Financial Partners LLC purchased a new position in First American Financial in the third quarter worth $32,000. Wealth Enhancement Trust Services Inc. grew its stake in First American Financial by 140.0% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 600 shares of the insurance provider’s stock worth $36,000 after buying an additional 350 shares during the period. Global Retirement Partners LLC bought a new position in First American Financial in the 2nd quarter worth about $55,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of First American Financial during the 2nd quarter valued at $73,000. 89.05% of the stock is owned by institutional investors.

About First American Financial

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.