First American Financial Corporation (NYSE:FAF) Stock Has Average Price Target of $81.60 According to Brokerages

First American Financial Corporation (NYSE:FAF) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $81.60.

Several equities analysts have recently commented on FAF shares. Weiss Ratings restated a “buy (b)” rating on shares of First American Financial in a research report on Friday, October 16th. Barclays lowered their target price on First American Financial from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Keefe, Bruyette & Woods lifted 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 report on Friday, July 24th. Truist Financial decreased their price objective on shares of First American Financial from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, Benchmark started coverage on shares of First American Financial in a report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 price target for the company.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $66.91 on Friday. First American Financial has a fifty-two week low of $56.20 and a fifty-two week high of $79.87. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 9.42 and a beta of 1.22. The firm has a fifty day moving average price of $66.93 and a 200 day moving average price of $67.49.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, October 21st. The insurance provider reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.07). The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. First American Financial had a net margin of 9.05% and a return on equity of 13.41%. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, research analysts predict that First American Financial will post 6.94 earnings per share for the current year.

First American Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 8th. This is a boost from First American Financial’s previous quarterly dividend of $0.55. First American Financial’s dividend payout ratio is presently 34.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FAF. Fifth Third Bancorp lifted its holdings in First American Financial by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 73,724 shares of the insurance provider’s stock valued at $4,478,000 after buying an additional 35,411 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in First American Financial by 18.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 5,738 shares of the insurance provider’s stock worth $349,000 after acquiring an additional 888 shares during the period. Ritholtz Wealth Management purchased a new stake in First American Financial during the 3rd quarter worth approximately $214,000. Illinois Municipal Retirement Fund acquired a new position in First American Financial during the third quarter worth about $805,000. Finally, Lido Advisors LLC lifted its stake in shares of First American Financial by 5.8% in the third quarter. Lido Advisors LLC now owns 4,171 shares of the insurance provider’s stock worth $253,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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.