First American Financial (NYSE:FAF) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of First American Financial (NYSE:FAF) from a hold rating to a buy rating in a research note published on Friday morning.

Several other research firms also recently issued reports on FAF. BTIG Research reissued a neutral rating on shares of First American Financial in a research report on Tuesday, July 18th. Truist Financial lifted their price target on shares of First American Financial from $67.00 to $77.00 and gave the company a buy rating in a research report on Friday, July 28th. Stephens lifted their price target on shares of First American Financial from $71.00 to $72.00 and gave the company an overweight rating in a research report on Friday, July 28th. Finally, SpectralCast reissued a maintains rating on shares of First American Financial in a research report on Tuesday, June 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $68.25.

First American Financial Stock Up 2.5 %

Shares of FAF stock opened at $63.25 on Friday. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 27.38 and a beta of 1.26. First American Financial has a 52 week low of $43.54 and a 52 week high of $64.66. The firm has a 50 day moving average of $59.90 and a 200-day moving average of $57.41.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.35 EPS for the quarter, topping the consensus estimate of $0.96 by $0.39. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.50 billion. First American Financial had a net margin of 3.64% and a return on equity of 10.72%. Analysts anticipate that First American Financial will post 4.33 earnings per share for the current year.

First American Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from First American Financial’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 7th. First American Financial’s payout ratio is presently 91.77%.

Institutional Investors Weigh In On First American Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAF. Raymond James & Associates raised its stake in First American Financial by 4.6% in the 1st quarter. Raymond James & Associates now owns 62,727 shares of the insurance provider’s stock valued at $4,066,000 after acquiring an additional 2,765 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in First American Financial by 2.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,501 shares of the insurance provider’s stock valued at $681,000 after buying an additional 294 shares in the last quarter. American Century Companies Inc. grew its holdings in First American Financial by 19.7% during the 1st quarter. American Century Companies Inc. now owns 28,814 shares of the insurance provider’s stock valued at $1,868,000 after buying an additional 4,736 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in First American Financial by 7.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,725 shares of the insurance provider’s stock valued at $241,000 after buying an additional 247 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in First American Financial by 3.3% during the 1st quarter. BlackRock Inc. now owns 9,629,986 shares of the insurance provider’s stock valued at $624,215,000 after buying an additional 303,214 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

About First American Financial

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.