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

First American Financial Co. (NYSE:FAF) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders 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 dividend yield of 3.49%.

First American Financial has increased its dividend by an average of 3.3% per year over the last three years and has raised its dividend every year for the last 14 years. First American Financial has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. 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 First American Financial stock traded down $0.70 during midday trading on Wednesday, hitting $61.81. The company had a trading volume of 377,698 shares, compared to its average volume of 483,738. The business’s 50 day simple moving average is $64.47 and its two-hundred day simple moving average is $63.23. The stock has a market cap of $6.37 billion, a PE ratio of 69.45 and a beta of 1.33. First American Financial has a 1-year low of $51.60 and a 1-year high of $70.92.

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

Analyst Upgrades and Downgrades

FAF has been the subject of a number of analyst reports. Stephens lifted their price objective on 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 dropped their price objective on First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Truist Financial boosted their price objective on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Barclays boosted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.