First American Financial Co. (NYSE:FAF) Declares $0.53 Quarterly Dividend

First American Financial Co. (NYSE:FAFGet Free Report) announced a quarterly dividend on Tuesday, May 21st, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid a dividend of 0.53 per share by the insurance provider on Monday, June 17th. This represents a $2.12 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, June 10th.

First American Financial has increased its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. First American Financial has a dividend payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect First American Financial to earn $5.27 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 40.2%.

First American Financial Stock Down 2.7 %

FAF stock opened at $56.16 on Thursday. First American Financial has a 52-week low of $49.55 and a 52-week high of $65.54. The stock’s 50 day moving average is $56.85 and its two-hundred day moving average is $58.76. The company has a market capitalization of $5.82 billion, a PE ratio of 26.87 and a beta of 1.28.

First American Financial (NYSE:FAFGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. First American Financial’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that First American Financial will post 3.97 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a report on Thursday, April 25th. TheStreet lowered First American Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Finally, Keefe, Bruyette & Woods upgraded First American Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $66.00 to $69.00 in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.75.

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First American Financial Company Profile

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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.

Further Reading

Dividend History for First American Financial (NYSE:FAF)

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