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

First American Financial Co. (NYSE:FAF) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Shareholders of record on Monday, December 9th will be given a dividend of 0.54 per share by the insurance provider on Monday, December 16th. This represents a $2.16 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, December 9th.

First American Financial has raised its dividend by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. First American Financial has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.14 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 42.0%.

First American Financial Stock Down 0.6 %

FAF stock opened at $62.63 on Thursday. First American Financial has a 52-week low of $51.60 and a 52-week high of $67.88. The company’s 50-day simple moving average is $64.83 and its 200-day simple moving average is $59.49. The firm has a market cap of $6.45 billion, a P/E ratio of 70.37 and a beta of 1.29.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.15 by $0.19. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.66 billion. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. First American Financial’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. On average, analysts anticipate that First American Financial will post 3.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FAF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial upped their price target on shares of First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Stephens increased their target price on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.50.

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.