First American Financial Corporation $FAF Shares Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd grew its holdings in shares of First American Financial Corporation (NYSE:FAF) by 3,226.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,946 shares of the insurance provider’s stock after acquiring an additional 9,647 shares during the period. Bayforest Capital Ltd’s holdings in First American Financial were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. boosted its holdings in First American Financial by 2,887.5% in the third quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 462 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of First American Financial in the 2nd quarter valued at approximately $35,000. Atlantic Union Bankshares Corp purchased a new position in shares of First American Financial during the 2nd quarter valued at approximately $36,000. Tripletail Wealth Management LLC acquired a new stake in shares of First American Financial during the third quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of First American Financial in the second quarter worth $48,000. 89.05% of the stock is owned by hedge funds and other institutional investors.

First American Financial Stock Up 2.3%

Shares of FAF stock opened at $61.45 on Friday. The company has a market cap of $6.26 billion, a P/E ratio of 13.21 and a beta of 1.27. The business has a 50 day moving average of $63.11 and a two-hundred day moving average of $62.81. First American Financial Corporation has a 52 week low of $53.09 and a 52 week high of $68.64.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.28. First American Financial had a return on equity of 11.01% and a net margin of 6.80%.The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business posted $1.34 EPS. The business’s revenue was up 40.7% on a year-over-year basis. Analysts expect that First American Financial Corporation will post 5.35 EPS for the current fiscal year.

First American Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.55 per share. The ex-dividend date was Monday, December 8th. This represents a $2.20 annualized dividend and a dividend yield of 3.6%. First American Financial’s dividend payout ratio is currently 47.31%.

Analyst Ratings Changes

A number of research analysts have commented on FAF shares. Wall Street Zen upgraded shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Barclays reduced their price target on shares of First American Financial from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Truist Financial boosted their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their target price on First American Financial from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First American Financial in a research report on Friday, December 26th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

About First American Financial

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.