First American Financial (NYSE:FAF) PT Raised to $68.00 at Truist Financial

First American Financial (NYSE:FAF) had its price objective upped by Truist Financial from $65.00 to $68.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

FAF has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their target price on First American Financial from $67.00 to $63.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Barclays cut their target price on First American Financial from $65.00 to $61.00 and set an equal weight rating for the company in a research report on Tuesday, July 9th. Finally, Stephens reiterated an overweight rating and set a $66.00 target price on shares of First American Financial in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $65.25.

First American Financial Price Performance

FAF opened at $59.87 on Friday. The business has a fifty day simple moving average of $54.92 and a 200 day simple moving average of $56.87. The company has a market capitalization of $6.21 billion, a PE ratio of 28.65 and a beta of 1.28. First American Financial has a 1 year low of $49.55 and a 1 year high of $65.54.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.14. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 EPS. Equities analysts anticipate that First American Financial will post 3.88 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.54%. First American Financial’s dividend payout ratio (DPR) is currently 101.44%.

Hedge Funds Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of the business. Ceredex Value Advisors LLC raised its holdings in shares of First American Financial by 1.7% during the 2nd quarter. Ceredex Value Advisors LLC now owns 209,143 shares of the insurance provider’s stock worth $11,283,000 after buying an additional 3,400 shares in the last quarter. LRI Investments LLC increased its holdings in First American Financial by 3,300.0% in the 2nd quarter. LRI Investments LLC now owns 2,686 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 2,607 shares in the last quarter. NewSquare Capital LLC increased its holdings in First American Financial by 3.6% in the 2nd quarter. NewSquare Capital LLC now owns 135,679 shares of the insurance provider’s stock worth $7,212,000 after purchasing an additional 4,742 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in First American Financial in the 2nd quarter worth about $259,000. Finally, Blossom Wealth Management increased its holdings in First American Financial by 2.9% in the 2nd quarter. Blossom Wealth Management now owns 6,940 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds 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.