FY2021 EPS Estimates for First American Financial Co. (NYSE:FAF) Boosted by Truist Securities

First American Financial Co. (NYSE:FAF) – Equities researchers at Truist Securities lifted their FY2021 EPS estimates for First American Financial in a note issued to investors on Wednesday, January 12th. Truist Securities analyst M. Hughes now expects that the insurance provider will post earnings per share of $7.67 for the year, up from their previous forecast of $7.58. Truist Securities also issued estimates for First American Financial’s Q4 2021 earnings at $1.75 EPS, Q1 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.64 EPS and FY2022 earnings at $6.55 EPS.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.29. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $1.31 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis.

FAF has been the subject of a number of other research reports. Cantor Fitzgerald decreased their price target on shares of First American Financial from $13.00 to $10.40 and set an “overweight” rating for the company in a research note on Wednesday, December 15th. Truist raised their target price on shares of First American Financial from $84.00 to $92.00 in a report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, First American Financial has an average rating of “Buy” and a consensus price target of $69.93.

NYSE FAF opened at $79.54 on Friday. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 7.03 and a beta of 1.21. The firm’s fifty day moving average price is $76.69 and its 200 day moving average price is $71.18. First American Financial has a 12 month low of $48.69 and a 12 month high of $81.54.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 8th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Tuesday, December 7th. First American Financial’s payout ratio is 18.04%.

In other First American Financial news, President Kenneth D. Degiorgio sold 15,739 shares of the company’s stock in a transaction that occurred on Friday, October 22nd. The stock was sold at an average price of $74.71, for a total transaction of $1,175,860.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kenneth D. Degiorgio sold 10,400 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $74.50, for a total value of $774,800.00. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. CX Institutional boosted its holdings in First American Financial by 0.7% during the third quarter. CX Institutional now owns 21,110 shares of the insurance provider’s stock worth $1,415,000 after buying an additional 138 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of First American Financial by 0.9% during the 2nd quarter. ProShare Advisors LLC now owns 17,713 shares of the insurance provider’s stock worth $1,104,000 after acquiring an additional 151 shares during the last quarter. Arden Trust Co increased its holdings in shares of First American Financial by 4.2% during the 3rd quarter. Arden Trust Co now owns 3,887 shares of the insurance provider’s stock worth $261,000 after acquiring an additional 156 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of First American Financial by 1.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,448 shares of the insurance provider’s stock worth $767,000 after acquiring an additional 163 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of First American Financial by 0.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 47,127 shares of the insurance provider’s stock worth $2,937,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

First American Financial Company Profile

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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