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

First American Financial Co. (NYSE:FAF) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, March 10th will be paid 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 3.52%. The ex-dividend date of this dividend is Monday, March 10th.

First American Financial has increased its dividend by an average of 3.3% annually 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% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.6 %

Shares of FAF opened at $61.37 on Friday. The stock has a market cap of $6.32 billion, a PE ratio of 68.95 and a beta of 1.33. First American Financial has a 12-month low of $51.60 and a 12-month high of $70.92. The business has a 50-day simple moving average of $64.43 and a two-hundred day simple moving average of $63.22.

First American Financial (NYSE:FAF) last posted its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the company earned $1.22 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts expect that First American Financial will post 4.07 EPS for the current year.

Wall Street Analyst Weigh In

FAF has been the topic of several analyst reports. Truist Financial boosted 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 note on Friday, October 25th. Barclays lifted their price objective on First American Financial from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Stephens increased their target price on shares of First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of First American Financial from $80.00 to $74.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, First American Financial has a consensus rating of “Moderate Buy” and an average 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.