Synovus Financial Corp Lowers Stock Holdings in First American Financial Co. (NYSE:FAF)

Synovus Financial Corp trimmed its holdings in shares of First American Financial Co. (NYSE:FAFFree Report) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,566 shares of the insurance provider’s stock after selling 188 shares during the period. Synovus Financial Corp’s holdings in First American Financial were worth $201,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in First American Financial in the 2nd quarter worth approximately $36,000. PCA Investment Advisory Services Inc. purchased a new position in First American Financial in the 2nd quarter worth approximately $41,000. Brown Brothers Harriman & Co. purchased a new position in First American Financial in the 1st quarter worth approximately $46,000. Industrial Alliance Investment Management Inc. grew its position in First American Financial by 161.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 571 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in First American Financial in the 1st quarter worth approximately $55,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

First American Financial Stock Down 1.0 %

Shares of FAF stock opened at $58.00 on Tuesday. The stock has a market cap of $5.98 billion, a P/E ratio of 27.88 and a beta of 1.27. First American Financial Co. has a 52 week low of $49.55 and a 52 week high of $65.54. The company’s fifty day simple moving average is $60.38 and its two-hundred day simple moving average is $58.68.

First American Financial (NYSE:FAFGet Free Report) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.47 billion. First American Financial had a net margin of 3.61% and a return on equity of 8.27%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.35 earnings per share. On average, analysts anticipate that First American Financial Co. will post 4.58 EPS for the current fiscal year.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Thursday, March 7th. First American Financial’s dividend payout ratio is 101.92%.

Analysts Set New Price Targets

A number of equities research analysts have commented on FAF shares. Deutsche Bank Aktiengesellschaft started coverage on shares of First American Financial in a research report on Wednesday, January 10th. They issued a “buy” rating for the company. Barclays initiated coverage on shares of First American Financial in a research report on Wednesday, November 15th. They set an “equal weight” rating and a $53.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on shares of First American Financial from $70.00 to $66.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. TheStreet raised shares of First American Financial from a “c” rating to a “b” rating in a research report on Wednesday, February 7th. Finally, Stephens reissued an “overweight” rating and set a $73.00 price objective on shares of First American Financial in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.25.

Read Our Latest Stock Analysis on First American Financial

About First American Financial

(Free Report)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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