First American Financial (NYSE:FAF) Earns “Hold (C+)” Rating from Weiss Ratings

First American Financial (NYSE:FAF)‘s stock had its “hold (c+)” rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts also recently commented on the company. Barclays lifted their price target on First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research report on Monday. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on First American Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.25.

First American Financial Stock Down 0.3%

Shares of NYSE FAF opened at $60.76 on Wednesday. The business’s 50 day moving average is $64.80 and its two-hundred day moving average is $61.44. The company has a market cap of $6.19 billion, a P/E ratio of 33.57 and a beta of 1.27. First American Financial has a 12 month low of $53.09 and a 12 month high of $70.92.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.40 by $0.13. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. First American Financial had a return on equity of 10.41% and a net margin of 2.90%.The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. Sell-side analysts expect that First American Financial will post 5.35 earnings per share for the current fiscal year.

First American Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other First American Financial news, Director Margaret M. Mccarthy sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.63, for a total value of $229,705.00. Following the sale, the director directly owned 28,095 shares in the company, valued at $1,843,874.85. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Trading of First American Financial

A number of large investors have recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in First American Financial in the first quarter worth $28,000. Elevation Point Wealth Partners LLC acquired a new position in First American Financial in the second quarter worth $35,000. Atlantic Union Bankshares Corp acquired a new position in First American Financial in the second quarter worth $36,000. Richardson Capital Management LLC acquired a new position in First American Financial in the first quarter worth $39,000. Finally, Ameritas Advisory Services LLC acquired a new position in First American Financial in the second quarter worth $48,000. 89.05% of the stock is currently owned by institutional investors.

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.