First American Financial (NYSE:FAF) Posts Earnings Results, Beats Expectations By $0.14 EPS

First American Financial (NYSE:FAF) announced its quarterly earnings data on Wednesday. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14, Briefing.com reports. First American Financial had a return on equity of 8.02% and a net margin of 3.28%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s revenue was down 2.1% compared to the same quarter last year.

First American Financial Price Performance

NYSE FAF traded up $1.08 on Friday, reaching $59.12. The stock had a trading volume of 96,243 shares, compared to its average volume of 638,275. The firm has a fifty day moving average of $54.86 and a two-hundred day moving average of $56.95. First American Financial has a 1-year low of $49.55 and a 1-year high of $65.54. The company has a market cap of $6.13 billion, a P/E ratio of 27.78 and a beta of 1.28.

First American Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Monday, June 10th. First American Financial’s dividend payout ratio is 101.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on First American Financial from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Stephens reiterated an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a research note on Thursday. Truist Financial boosted their target price on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays decreased their target price on First American Financial from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.50.

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.