First American Financial (NYSE:FAF) Reaches New 1-Year High – Time to Buy?

First American Financial Co. (NYSE:FAF)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $69.18 and last traded at $69.00, with a volume of 22426 shares changing hands. The stock had previously closed at $67.64.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FAF shares. Keefe, Bruyette & Woods increased their target price on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Stephens raised their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays increased their target price on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Truist Financial increased their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Trading Up 3.7 %

The business has a 50 day simple moving average of $64.92 and a two-hundred day simple moving average of $60.37. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 76.00 and a beta of 1.29.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $1.22 EPS. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. Research analysts anticipate that First American Financial Co. will post 4.04 EPS for the current fiscal year.

First American Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio is presently 242.70%.

Institutional Trading of First American Financial

Several hedge funds have recently made changes to their positions in FAF. Mather Group LLC. lifted its holdings in shares of First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC boosted its position in First American Financial by 56.9% during the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 257 shares during the period. Venturi Wealth Management LLC boosted its position in First American Financial by 132.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 356 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in First American Financial during the 2nd quarter worth $47,000. Finally, Quarry LP boosted its position in First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 668 shares during the period. Institutional investors own 89.05% of the company’s stock.

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.