Zacks Research Has Bullish Outlook for FAF FY2024 Earnings

First American Financial Co. (NYSE:FAF) – Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of First American Financial in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst T. De now anticipates that the insurance provider will earn $4.09 per share for the year, up from their previous estimate of $3.88. The consensus estimate for First American Financial’s current full-year earnings is $3.99 per share.

Several other analysts have also recently commented on the company. Truist Financial upped their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stephens upped their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays increased their price objective on shares of First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Trading Up 0.2 %

NYSE FAF opened at $64.98 on Friday. The firm has a market capitalization of $6.69 billion, a PE ratio of 73.01 and a beta of 1.29. The business’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $59.90. First American Financial has a 12 month low of $51.60 and a 12 month high of $67.88.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. First American Financial’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share.

Institutional Investors Weigh In On First American Financial

Large investors have recently bought and sold shares of the stock. Mather Group LLC. grew its stake in shares of First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after buying an additional 334 shares during the period. GAMMA Investing LLC boosted its holdings in First American Financial by 56.9% in the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 257 shares in the last quarter. Venturi Wealth Management LLC grew its stake in First American Financial by 132.3% in the third quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 356 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of First American Financial during the second quarter valued at approximately $47,000. Finally, Quarry LP raised its position in shares of First American Financial by 340.8% during the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 668 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, December 9th. First American Financial’s dividend payout ratio is presently 242.70%.

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.