First American Financial (NYSE:FAF) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

First American Financial (NYSE:FAF) posted its earnings results on Wednesday. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.15 by $0.19, Briefing.com reports. The firm 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 7.98% and a net margin of 3.28%. First American Financial’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share.

First American Financial Stock Up 0.2 %

Shares of NYSE:FAF opened at $63.91 on Friday. The company has a market cap of $6.63 billion, a P/E ratio of 30.58 and a beta of 1.29. First American Financial has a 52 week low of $49.55 and a 52 week high of $67.88. The company has a 50-day moving average price of $64.69 and a 200 day moving average price of $59.06.

First American Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a $0.54 dividend. The ex-dividend date was Friday, September 20th. This represents a $2.16 dividend on an annualized basis and a yield of 3.38%. This is an increase from First American Financial’s previous quarterly dividend of $0.53. First American Financial’s dividend payout ratio (DPR) is presently 103.35%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their target price on First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and set a $66.00 price objective on shares of First American Financial in a report on Thursday, July 25th. Barclays raised their price objective on First American Financial from $61.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Truist Financial raised their price objective on First American Financial from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two equities 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

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.