Short Interest in First American Financial Co. (NYSE:FAF) Grows By 61.3%

First American Financial Co. (NYSE:FAF) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 1,710,000 shares, an increase of 61.3% from the February 28th total of 1,060,000 shares. Based on an average daily volume of 592,700 shares, the short-interest ratio is currently 2.9 days. Currently, 1.7% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms recently commented on FAF. Keefe, Bruyette & Woods raised their price objective on shares of First American Financial from $74.00 to $75.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Stephens boosted their price objective on shares of First American Financial from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, February 14th.

First American Financial Stock Performance

Shares of First American Financial stock traded down $0.80 during trading on Friday, hitting $65.68. 513,600 shares of the stock traded hands, compared to its average volume of 632,929. The stock has a market cap of $6.77 billion, a P/E ratio of 52.54 and a beta of 1.34. First American Financial has a twelve month low of $51.60 and a twelve month high of $70.92. The company has a fifty day moving average price of $63.88 and a two-hundred day moving average price of $64.40.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, February 12th. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. On average, equities research analysts expect that First American Financial will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, March 10th. First American Financial’s payout ratio is 172.80%.

Insider Activity

In other news, SVP Lisa W. Cornehl sold 3,057 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the sale, the senior vice president now directly owns 23,825 shares of the company’s stock, valued at $1,560,299.25. This trade represents a 11.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Edward Seaton sold 12,679 shares of First American Financial stock in a transaction on Monday, February 24th. The stock was sold at an average price of $64.28, for a total value of $815,006.12. Following the completion of the transaction, the chief financial officer now owns 195,812 shares in the company, valued at $12,586,795.36. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,707 shares of company stock worth $8,136,565. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of First American Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake in shares of First American Financial by 66.9% in the 4th quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of First American Financial by 57.6% in the fourth quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC raised its position in shares of First American Financial by 34.9% in the fourth quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 277 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of First American Financial in the third quarter worth $75,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of First American Financial by 14.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds 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.