What is Zacks Research’s Estimate for FAF FY2024 Earnings?

First American Financial Co. (NYSE:FAF) – Research analysts at Zacks Research upped their FY2024 earnings estimates for shares of First American Financial in a report issued on Wednesday, November 13th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $4.09 for the year, up from their prior forecast of $3.88. The consensus estimate for First American Financial’s current full-year earnings is $3.99 per share.

Several other analysts also recently weighed in on FAF. Truist Financial lifted their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stephens lifted their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Barclays lifted their target price on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.50.

First American Financial Price Performance

Shares of NYSE FAF opened at $64.83 on Friday. First American Financial has a 1 year low of $51.60 and a 1 year high of $67.88. The company has a 50 day simple moving average of $64.80 and a 200-day simple moving average of $59.75. The company has a market capitalization of $6.68 billion, a P/E ratio of 72.84 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.16 annualized dividend and a dividend yield of 3.33%. First American Financial’s dividend payout ratio (DPR) is 242.70%.

Institutional Investors Weigh In On First American Financial

Several institutional investors have recently modified their holdings of FAF. Sei Investments Co. lifted its position in shares of First American Financial by 5.3% during the 1st quarter. Sei Investments Co. now owns 14,759 shares of the insurance provider’s stock worth $901,000 after purchasing an additional 741 shares during the last quarter. Russell Investments Group Ltd. lifted its position in First American Financial by 9.6% in the first quarter. Russell Investments Group Ltd. now owns 324,737 shares of the insurance provider’s stock valued at $19,824,000 after acquiring an additional 28,480 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in First American Financial in the first quarter valued at $1,581,000. Vanguard Group Inc. lifted its position in First American Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Finally, Covestor Ltd lifted its position in First American Financial by 557.2% in the first quarter. Covestor Ltd now owns 1,091 shares of the insurance provider’s stock valued at $66,000 after acquiring an additional 925 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other institutional investors.

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.