First American Financial (NYSE:FAF) Posts Earnings Results, Misses Estimates By $0.07 EPS

First American Financial (NYSE:FAF) issued its earnings results on Wednesday. The insurance provider reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.07), FiscalAI reports. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. First American Financial had a return on equity of 13.31% and a net margin of 9.33%. During the same period last year, the business posted $1.84 EPS.

First American Financial Stock Up 0.6%

Shares of FAF stock opened at $66.69 on Thursday. The stock’s 50-day moving average price is $68.80 and its 200 day moving average price is $68.75. The stock has a market capitalization of $6.81 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.61 and a beta of 1.24. First American Financial has a 52-week low of $56.20 and a 52-week high of $79.87.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. First American Financial’s dividend payout ratio (DPR) is currently 33.80%.

Insiders Place Their Bets

In other First American Financial news, CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at approximately $767,447.66. This trade represents a 24.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

FAF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial reduced their price objective on shares of First American Financial from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a report on Friday, October 16th. Barclays dropped their target price on shares of First American Financial from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Finally, Benchmark started coverage on shares of First American Financial in a research report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.80.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.