Synovus Financial Corp Boosts Holdings in First American Financial Co. (NYSE:FAF)

Synovus Financial Corp grew its position in shares of First American Financial Co. (NYSE:FAFGet Rating) by 106.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,720 shares of the insurance provider’s stock after purchasing an additional 3,979 shares during the period. Synovus Financial Corp’s holdings in First American Financial were worth $401,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Versor Investments LP grew its position in First American Financial by 9.2% during the first quarter. Versor Investments LP now owns 8,732 shares of the insurance provider’s stock worth $566,000 after buying an additional 732 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in First American Financial by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 39,219 shares of the insurance provider’s stock valued at $2,542,000 after purchasing an additional 618 shares in the last quarter. Profund Advisors LLC raised its stake in First American Financial by 9.6% in the first quarter. Profund Advisors LLC now owns 6,148 shares of the insurance provider’s stock valued at $399,000 after purchasing an additional 537 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in First American Financial during the first quarter valued at approximately $930,000. Finally, Advisors Asset Management Inc. grew its stake in First American Financial by 4.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 24,187 shares of the insurance provider’s stock worth $1,280,000 after buying an additional 1,030 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.

First American Financial Trading Up 0.9 %

NYSE FAF opened at $53.05 on Monday. The firm has a market cap of $5.49 billion, a PE ratio of 12.51 and a beta of 1.22. First American Financial Co. has a 1-year low of $43.54 and a 1-year high of $81.54. The stock has a 50-day moving average of $48.92 and a 200-day moving average of $53.67.

First American Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 8th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $2.08 annualized dividend and a yield of 3.92%. First American Financial’s payout ratio is currently 49.06%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of First American Financial from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 17th. TheStreet lowered First American Financial from a “b-” rating to a “c+” rating in a research note on Friday, September 30th. StockNews.com initiated coverage on First American Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Barclays reduced their price target on shares of First American Financial from $83.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, October 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, First American Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.88.

First American Financial Company Profile

(Get Rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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