First American Financial Co. (NYSE:FAF – Get Rating) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 2,530,000 shares, a growth of 22.8% from the August 31st total of 2,060,000 shares. Based on an average trading volume of 655,000 shares, the short-interest ratio is presently 3.9 days. Currently, 2.6% of the company's stock are sold short.
Analyst Upgrades and Downgrades
A number of research firms have commented on FAF. BTIG Research reduced their target price on First American Financial from $81.00 to $79.00 and set a "buy" rating for the company in a report on Friday, July 8th. Truist Financial reduced their price objective on First American Financial from $86.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday, July 13th. Finally, Barclays lowered their target price on shares of First American Financial from $87.00 to $83.00 and set an "overweight" rating on the stock in a research note on Monday, July 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.68.
Get
First American Financial alerts:
First American Financial Stock Performance
First American Financial stock opened at $46.09 on Monday. First American Financial has a one year low of $44.34 and a one year high of $81.54. The stock has a fifty day moving average of $53.94 and a 200 day moving average of $56.97. The stock has a market cap of $4.80 billion, a PE ratio of 5.61 and a beta of 1.24.
First American Financial (NYSE:FAF – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The insurance provider reported $2.23 EPS for the quarter, beating the consensus estimate of $1.62 by $0.61. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.12 billion. First American Financial had a net
margin of 10.11% and a return on equity of 15.41%. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. As a group, sell-side analysts predict that First American Financial will post 6.38 EPS for the current fiscal year.
First American Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were given a dividend of $0.52 per share. This is an increase from First American Financial's previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, September 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.51%. First American Financial's payout ratio is presently 25.30%.
Institutional Investors Weigh In On First American Financial
Several hedge funds and other institutional investors have recently modified their holdings of FAF. TCI Wealth Advisors Inc. increased its holdings in First American Financial by 313.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 409 shares of the insurance provider's stock worth $27,000 after acquiring an additional 310 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of First American Financial in the second quarter worth $36,000. Brown Brothers Harriman & Co. purchased a new position in shares of First American Financial during the 1st quarter valued at $46,000. EverSource Wealth Advisors LLC purchased a new position in shares of First American Financial during the 2nd quarter valued at $50,000. Finally, CX Institutional bought a new position in First American Financial in the 2nd quarter worth $54,000. 87.23% of the stock is currently owned by hedge funds and other institutional investors.
About First American Financial
(Get Rating)
First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.
See Also
- Get a free copy of the StockNews.com research report on First American Financial (FAF)
- Near-Term Headwinds Send Nike To The Bargain Basement
- Archer Daniels Midland: Dividend Hero With 49 Years Of Increases
- Will Fully Autonomous Tractors Make Deere the Tesla of Farming?
- Magna International is Your Auto and EV One-Stop Shop Stock
- Is the Bond Market Signaling a Market Bottom?
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.
