First American Financial (NYSE:FAF) Issues Earnings Results, Beats Estimates By $0.19 EPS

First American Financial (NYSE:FAF) released its quarterly earnings data on Wednesday. The insurance provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19, Briefing.com reports. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis.

First American Financial Trading Up 0.2 %

First American Financial stock opened at $63.91 on Friday. First American Financial has a twelve month low of $49.55 and a twelve month high of $67.88. The stock’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $59.06. The firm has a market capitalization of $6.63 billion, a P/E ratio of 30.58 and a beta of 1.29.

First American Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio is currently 103.35%.

Analysts Set New Price Targets

FAF has been the topic of a number of recent analyst reports. Barclays upped their price objective on First American Financial from $61.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Stephens restated an “overweight” rating and set a $66.00 price target on shares of First American Financial in a research note on Thursday, July 25th. Finally, Truist Financial upped their price target on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

First American Financial Company Profile

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.