Zacks Research Has Positive Estimate for FAF FY2024 Earnings

First American Financial Co. (NYSE:FAF - Free Report) - Equities researchers at Zacks Research lifted their FY2024 EPS estimates for First American Financial in a note issued to investors on Wednesday, November 13th. Zacks Research analyst T. De now expects that the insurance provider will post earnings per share of $4.09 for the year, up from their previous forecast of $3.88. The consensus estimate for First American Financial's current full-year earnings is $3.99 per share.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) 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 return on equity of 7.95% and a net margin of 1.58%. First American Financial's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS.

Other analysts have also recently issued research reports about the stock. 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. Keefe, Bruyette & Woods lifted their price objective on First American Financial from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Truist Financial lifted their price target on First American Financial from $68.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Barclays raised 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.50.

First American Financial Price Performance

NYSE FAF traded up $0.13 during mid-day trading on Friday, hitting $64.97. The stock had a trading volume of 483,000 shares, compared to its average volume of 674,067. First American Financial has a twelve month low of $51.60 and a twelve month high of $67.88. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 73.00 and a beta of 1.29. The firm's 50 day moving average is $64.79 and its 200 day moving average is $59.86.

First American Financial Dividend Announcement

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

Institutional Trading of First American Financial

A number of large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its holdings 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 buying an additional 356 shares during the last quarter. Mather Group LLC. boosted its holdings in First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC raised its holdings in First American Financial by 56.9% during the second quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider's stock worth $38,000 after purchasing an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in First American Financial by 56.5% during the first quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider's stock worth $49,000 after purchasing an additional 288 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of First American Financial by 340.8% in the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider's stock valued at $47,000 after buying an additional 668 shares in 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, 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.