First American Financial (NYSE:FAF) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

First American Financial (NYSE:FAF) posted its quarterly earnings data on Wednesday. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.03), FiscalAI reports. First American Financial had a return on equity of 13.31% and a net margin of 9.33%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion.

First American Financial Stock Performance

Shares of NYSE FAF traded up $0.43 during mid-day trading on Wednesday, reaching $66.69. The company had a trading volume of 1,612,233 shares, compared to its average volume of 962,860. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.60 and a beta of 1.24. The stock has a fifty day moving average of $68.91 and a two-hundred day moving average of $68.69. First American Financial has a 12-month low of $56.20 and a 12-month high of $79.87.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 28th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, September 28th. First American Financial’s dividend payout ratio is 33.80%.

Insider Buying and Selling

In other First American Financial news, CAO Steven Adams sold 3,253 shares of First American Financial stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the sale, the chief accounting officer owned 10,234 shares of the company’s stock, valued at $767,447.66. This trade represents a 24.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

FAF has been the topic of several analyst reports. Benchmark assumed coverage on shares of First American Financial in a research report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price on the stock. Barclays reduced their price target on shares of First American Financial from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Zacks Research lowered shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Truist Financial cut their target price on shares of First American Financial from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, Keefe, Bruyette & Woods increased their target price on First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.80.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.