First American Financial Corp to Post Q3 2020 Earnings of $1.13 Per Share, Truist Securiti Forecasts (NYSE:FAF)

First American Financial Corp (NYSE:FAF) – Investment analysts at Truist Securiti upped their Q3 2020 earnings per share estimates for shares of First American Financial in a report issued on Monday, September 14th. Truist Securiti analyst M. Hughes now forecasts that the insurance provider will post earnings per share of $1.13 for the quarter, up from their previous estimate of $1.03. Truist Securiti also issued estimates for First American Financial’s FY2020 earnings at $4.42 EPS, Q2 2021 earnings at $1.21 EPS, Q3 2021 earnings at $1.19 EPS and FY2021 earnings at $4.45 EPS.

First American Financial (NYSE:FAF) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.46 billion. First American Financial had a return on equity of 14.27% and a net margin of 10.05%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share.

Several other analysts have also recently commented on the company. TheStreet upgraded First American Financial from a “c+” rating to a “b-” rating in a report on Wednesday, June 17th. Barclays upped their target price on First American Financial from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their target price on First American Financial from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. First American Financial currently has a consensus rating of “Hold” and a consensus target price of $57.83.

NYSE:FAF opened at $52.55 on Wednesday. The stock’s 50-day moving average is $52.44 and its 200-day moving average is $49.72. First American Financial has a 1-year low of $29.36 and a 1-year high of $66.78. The stock has a market cap of $5.86 billion, a P/E ratio of 9.24 and a beta of 1.05.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, September 4th. First American Financial’s payout ratio is 30.56%.

Several institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in shares of First American Financial by 0.3% during the 2nd quarter. Raymond James & Associates now owns 68,912 shares of the insurance provider’s stock worth $3,309,000 after buying an additional 198 shares in the last quarter. AlphaStar Capital Management LLC boosted its holdings in shares of First American Financial by 3.7% during the 2nd quarter. AlphaStar Capital Management LLC now owns 6,607 shares of the insurance provider’s stock worth $349,000 after buying an additional 234 shares in the last quarter. Ninety One SA PTY Ltd boosted its holdings in shares of First American Financial by 54.3% during the 2nd quarter. Ninety One SA PTY Ltd now owns 699 shares of the insurance provider’s stock worth $33,000 after buying an additional 246 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of First American Financial by 0.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 104,753 shares of the insurance provider’s stock worth $5,030,000 after buying an additional 265 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of First American Financial by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,301 shares of the insurance provider’s stock worth $398,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

Further Reading: How does the Beige Book influence monetary policy?

Earnings History and Estimates for First American Financial (NYSE:FAF)

Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.