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

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 given a dividend of 0.54 per share by the insurance provider on Monday, March 17th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.49%.

First American Financial has raised its dividend by an average of 3.3% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. First American Financial has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1 %

Shares of NYSE FAF traded down $0.70 during midday trading on Wednesday, reaching $61.81. The company’s stock had a trading volume of 377,698 shares, compared to its average volume of 482,462. First American Financial has a fifty-two week low of $51.60 and a fifty-two week high of $70.92. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 69.45 and a beta of 1.33. The stock has a 50 day simple moving average of $64.47 and a 200-day simple moving average of $63.23.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business earned $1.22 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that First American Financial will post 4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective 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. Barclays lifted their price objective on shares of 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. Keefe, Bruyette & Woods reduced their price objective on shares of First American Financial from $80.00 to $74.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, Stephens lifted their price objective on shares of First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, First American Financial has a consensus rating of “Moderate Buy” and a consensus price target 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.