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

First American Financial Co. (NYSE:FAF) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Stockholders of record on Monday, December 9th will be paid 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 dividend yield of 3.43%.

First American Financial has increased its dividend payment 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 dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:FAF traded up $0.44 during trading on Tuesday, reaching $62.99. 463,800 shares of the company were exchanged, compared to its average volume of 671,451. The firm has a market capitalization of $6.49 billion, a PE ratio of 70.28 and a beta of 1.29. The business’s fifty day simple moving average is $64.83 and its 200-day simple moving average is $59.42. First American Financial has a 12-month low of $51.60 and a 12-month high of $67.88.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share (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 net margin of 1.58% and a return on equity of 7.95%. First American Financial’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. On average, sell-side analysts anticipate that First American Financial will post 3.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FAF shares. Stephens lifted their price target on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on First American Financial from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays upped their price target on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.