First American Financial Corp. (FAF) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS
First American Financial Corp. (NYSE:FAF) announced its earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.02, StockRatingsNetwork reports. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.10 billion.
FAF has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of First American Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 7th. They now have a $30.50 price target on the stock. On the ratings front, analysts at Barclays raised their price target on shares of First American Financial Corp. from $29.00 to $33.00 in a research note on Tuesday, January 7th. They now have an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.10.
In other First American Financial Corp. news, CEO Dennis Gilmore unloaded 116,453 shares of the stock on the open market in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $25.12, for a total transaction of $2,925,299.36. Following the sale, the chief executive officer now directly owns 923,761 shares of the company’s stock, valued at approximately $23,204,876. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of First American Financial Corp. (NYSE:FAF) opened at 26.08 on Thursday. First American Financial Corp. has a 52-week low of $20.39 and a 52-week high of $28.57. The stock has a 50-day moving average of $26.4 and a 200-day moving average of $24.84. The company has a market cap of $2.757 billion and a price-to-earnings ratio of 12.55.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, March 6th.
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services through its title insurance and services segment and its specialty insurance segment.
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