First American Financial Co. Plans Quarterly Dividend of $0.54 (NYSE:FAF)

First American Financial Co. (NYSE:FAF) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 0.54 per share by the insurance provider on Monday, March 17th. This represents a $2.16 annualized dividend and a yield of 3.49%.

First American Financial has increased its dividend payment by an average of 3.3% annually over the last three years and has increased its dividend every year for the last 14 years. First American Financial has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.32 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 40.6%.

First American Financial Price Performance

Shares of FAF opened at $61.81 on Thursday. The business’s fifty day moving average price is $64.43 and its 200 day moving average price is $63.22. First American Financial has a 12-month low of $51.60 and a 12-month high of $70.92. The stock has a market capitalization of $6.37 billion, a PE ratio of 69.45 and a beta of 1.33.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.22 earnings per share. As a group, research analysts anticipate that First American Financial will post 4.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FAF. Truist Financial raised their target price on First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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 note on Friday, October 25th. Keefe, Bruyette & Woods dropped their price target on First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays lifted their price target on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.