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

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

First American Financial Trading Down 1.4 %

NYSE:FAF traded down $0.89 during midday trading on Wednesday, reaching $62.61. The company had a trading volume of 552,907 shares, compared to its average volume of 430,457. The stock’s fifty day simple moving average is $63.08 and its 200-day simple moving average is $63.91. First American Financial has a 12-month low of $51.60 and a 12-month high of $70.92. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 70.35 and a beta of 1.33.

First American Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. First American Financial’s dividend payout ratio (DPR) is presently 242.70%.

Analysts Set New Price Targets

A number of brokerages have commented on FAF. Stephens lifted 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. Barclays lifted their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Truist Financial boosted their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.