First American Financial (NYSE:FAF) Announces Earnings Results, Beats Expectations By $0.22 EPS

First American Financial (NYSE:FAF) announced its earnings results on Wednesday. The insurance provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.22, Zacks reports. First American Financial had a return on equity of 7.95% and a net margin of 1.58%.

First American Financial Stock Performance

FAF traded down $0.89 during trading hours on Wednesday, reaching $62.61. The company’s stock had a trading volume of 552,907 shares, compared to its average volume of 430,457. First American Financial has a 52 week low of $51.60 and a 52 week high of $70.92. The company’s 50-day moving average is $63.08 and its 200-day moving average is $63.91. The firm has a market cap of $6.45 billion, a PE ratio of 70.35 and a beta of 1.33.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, March 10th. First American Financial’s dividend payout ratio is currently 242.70%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FAF shares. Keefe, Bruyette & Woods dropped their target price on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Stephens upped their price objective on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” 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 research note on Friday, October 25th. Finally, Truist Financial upped their price objective on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.