Zacks Research Has Strong Estimate for FAF FY2024 Earnings

First American Financial Co. (NYSE:FAF) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of First American Financial in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings of $4.09 per share for the year, up from their previous estimate of $3.88. The consensus estimate for First American Financial’s current full-year earnings is $3.99 per share.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business earned $1.22 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis.

Several other equities analysts also recently issued reports on FAF. Stephens upped their price objective on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial boosted their price objective on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays upped their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

First American Financial Stock Up 0.2 %

NYSE FAF opened at $64.97 on Friday. The firm has a 50 day moving average of $64.79 and a two-hundred day moving average of $59.86. The stock has a market capitalization of $6.69 billion, a PE ratio of 73.00 and a beta of 1.29. First American Financial has a 52 week low of $51.60 and a 52 week high of $67.88.

Institutional Investors Weigh In On First American Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. increased its holdings in First American Financial by 99.1% in the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 257 shares during the last quarter. Venturi Wealth Management LLC boosted its position in First American Financial by 132.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 625 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 356 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in First American Financial during the 2nd quarter worth $47,000. Finally, Quarry LP increased its position in First American Financial by 340.8% in the second quarter. Quarry LP now owns 864 shares of the insurance provider’s stock worth $47,000 after buying an additional 668 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, December 9th. First American Financial’s payout ratio is 242.70%.

About First American Financial

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.