Bar Harbor Wealth Management Purchases 16,015 Shares of First American Financial Co. (NYSE:FAF)

Bar Harbor Wealth Management grew its position in shares of First American Financial Co. (NYSE:FAF) by 31.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,303 shares of the insurance provider’s stock after buying an additional 16,015 shares during the quarter. Bar Harbor Wealth Management owned 0.06% of First American Financial worth $4,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FAF. Custom Index Systems LLC grew its stake in First American Financial by 2.3% in the 2nd quarter. Custom Index Systems LLC now owns 8,218 shares of the insurance provider’s stock valued at $443,000 after buying an additional 182 shares in the last quarter. Pacer Advisors Inc. grew its stake in First American Financial by 1.2% in the 2nd quarter. Pacer Advisors Inc. now owns 15,560 shares of the insurance provider’s stock valued at $839,000 after buying an additional 187 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in First American Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,327 shares of the insurance provider’s stock valued at $630,000 after buying an additional 193 shares in the last quarter. Blossom Wealth Management grew its stake in First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock valued at $374,000 after buying an additional 195 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in First American Financial by 4.9% in the 1st quarter. Bessemer Group Inc. now owns 4,985 shares of the insurance provider’s stock valued at $304,000 after buying an additional 234 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FAF shares. Barclays boosted their price target on shares of First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Truist Financial upped their target price on shares of First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their target price on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens reiterated an “overweight” rating and issued a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

First American Financial Stock Down 0.6 %

First American Financial stock opened at $67.20 on Friday. The company has a market capitalization of $6.97 billion, a PE ratio of 32.15 and a beta of 1.29. The firm has a fifty day simple moving average of $64.31 and a two-hundred day simple moving average of $58.90. First American Financial Co. has a twelve month low of $49.55 and a twelve month high of $67.88.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, equities analysts expect that First American Financial Co. will post 3.89 earnings per share for the current fiscal year.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.21%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial’s dividend payout ratio is 103.35%.

About First American Financial

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.