FY2024 Earnings Forecast for FAF Issued By Zacks Research

First American Financial Co. (NYSE:FAF) – Research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of First American Financial in a report issued on Wednesday, November 13th. Zacks Research analyst T. De now forecasts that the insurance provider will earn $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.

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

First American Financial Price Performance

NYSE FAF opened at $64.83 on Friday. The stock’s fifty day moving average price is $64.80 and its 200 day moving average price is $59.75. First American Financial has a 1 year low of $51.60 and a 1 year high of $67.88. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 72.84 and a beta of 1.29.

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, beating the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s revenue was down 5.1% on a year-over-year basis.

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, December 9th. First American Financial’s dividend payout ratio is currently 242.70%.

Institutional Investors Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of the business. Paloma Partners Management Co acquired a new stake in shares of First American Financial during the 3rd quarter valued at about $265,000. Erste Asset Management GmbH acquired a new stake in shares of First American Financial during the 3rd quarter valued at about $210,000. ARGA Investment Management LP grew its position in shares of First American Financial by 1,801.7% during the 3rd quarter. ARGA Investment Management LP now owns 249,174 shares of the insurance provider’s stock valued at $16,448,000 after acquiring an additional 236,071 shares during the period. Verition Fund Management LLC grew its position in shares of First American Financial by 449.3% during the 3rd quarter. Verition Fund Management LLC now owns 47,700 shares of the insurance provider’s stock valued at $3,149,000 after acquiring an additional 39,017 shares during the period. Finally, Captrust Financial Advisors lifted its stake in First American Financial by 11.8% in the 3rd quarter. Captrust Financial Advisors now owns 6,930 shares of the insurance provider’s stock valued at $457,000 after buying an additional 732 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

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.