OLD National Bancorp IN Reduces Stock Position in First American Financial Co. (NYSE:FAF)

OLD National Bancorp IN lowered its stake in First American Financial Co. (NYSE:FAF) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,877 shares of the insurance provider’s stock after selling 2,189 shares during the quarter. OLD National Bancorp IN owned 0.08% of First American Financial worth $4,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of First American Financial during the 4th quarter worth $26,000. Venturi Wealth Management LLC boosted its stake in shares of First American Financial by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 505 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 228 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of First American Financial during the 4th quarter worth $33,000. Mather Group LLC. boosted its stake in shares of First American Financial by 99.1% during the 2nd quarter. Mather Group LLC. now owns 671 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of First American Financial during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Price Performance

Shares of First American Financial stock traded down $0.05 during trading on Friday, hitting $60.11. The stock had a trading volume of 328,871 shares, compared to its average volume of 666,581. The firm’s fifty day simple moving average is $55.83 and its 200-day simple moving average is $56.87. The stock has a market cap of $6.23 billion, a PE ratio of 28.76 and a beta of 1.28. First American Financial Co. has a 12 month low of $49.55 and a 12 month high of $65.54.

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

First American Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, June 10th. First American Financial’s dividend payout ratio is presently 101.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FAF shares. Barclays dropped their price target on shares of First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Stephens reissued an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Truist Financial increased their price objective on shares of First American Financial from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.25.

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.