Basswood Capital Management L.L.C. Grows Holdings in First American Financial Co. (NYSE:FAF)

Basswood Capital Management L.L.C. increased its position in shares of First American Financial Co. (NYSE:FAFFree Report) by 91.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,127 shares of the insurance provider’s stock after acquiring an additional 217,496 shares during the period. First American Financial comprises 1.9% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 17th biggest position. Basswood Capital Management L.L.C. owned approximately 0.44% of First American Financial worth $29,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of First American Financial in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC acquired a new stake in shares of First American Financial in the 4th quarter valued at $33,000. Headlands Technologies LLC purchased a new stake in shares of First American Financial during the 4th quarter worth $44,000. Principal Securities Inc. acquired a new position in shares of First American Financial during the fourth quarter worth $45,000. Finally, Chilton Capital Management LLC purchased a new position in First American Financial in the fourth quarter valued at $64,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FAF. TheStreet cut shares of First American Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $69.00 in a research report on Thursday, March 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.75.

View Our Latest Report on FAF

First American Financial Price Performance

Shares of NYSE:FAF traded down $0.85 on Friday, reaching $53.87. The company’s stock had a trading volume of 525,674 shares, compared to its average volume of 436,495. First American Financial Co. has a 52-week low of $49.55 and a 52-week high of $65.54. The stock has a market capitalization of $5.59 billion, a P/E ratio of 25.78 and a beta of 1.28. The stock’s 50-day moving average is $56.17 and its two-hundred day moving average is $58.71.

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

First American Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.12 dividend on an annualized basis and a yield of 3.94%. First American Financial’s dividend payout ratio (DPR) is 101.44%.

First American Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First American Financial (NYSE:FAF)

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