First American Financial (NYSE:FAF) PT Raised to $68.00 at Truist Financial

First American Financial (NYSE:FAF) had its target price hoisted by Truist Financial from $65.00 to $68.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. Stephens reissued an overweight rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Barclays lowered their price target on First American Financial from $65.00 to $61.00 and set an equal weight rating on the stock in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price target on First American Financial from $67.00 to $63.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, First American Financial currently has an average rating of Moderate Buy and an average target price of $65.25.

First American Financial Stock Performance

NYSE:FAF opened at $59.87 on Friday. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 28.65 and a beta of 1.28. First American Financial has a 52-week low of $49.55 and a 52-week high of $65.54. The stock has a fifty day moving average of $54.92 and a 200 day moving average of $56.87.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.14. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. First American Financial had a return on equity of 7.98% and a net margin of 3.28%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.35 earnings per share. Equities analysts forecast that First American Financial will post 3.88 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.12 dividend on an annualized basis and a yield of 3.54%. First American Financial’s payout ratio is 101.44%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new position in shares of First American Financial in the fourth quarter worth about $26,000. Venturi Wealth Management LLC increased its holdings in shares of First American Financial by 82.3% in the first quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after buying an additional 228 shares during the period. GAMMA Investing LLC purchased a new position in shares of First American Financial in the fourth quarter worth about $33,000. Mather Group LLC. increased its holdings in shares of First American Financial by 99.1% in the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after buying an additional 334 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of First American Financial in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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.