First American Financial Corp (FAF) Plans $0.34 Quarterly Dividend
First American Financial Corp (NYSE:FAF) declared a quarterly dividend on Tuesday, May 9th. Investors of record on Thursday, June 8th will be given a dividend of 0.34 per share by the insurance provider on Thursday, June 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.26%.
First American Financial Corp has raised its dividend by an average of 35.7% annually over the last three years and has increased its dividend every year for the last 5 years. First American Financial Corp has a payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect First American Financial Corp to earn $3.47 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 39.2%.
First American Financial Corp (NYSE:FAF) traded down 1.86% on Tuesday, hitting $41.78. The company had a trading volume of 1,050,739 shares. The stock has a market capitalization of $4.62 billion, a PE ratio of 13.32 and a beta of 0.80. First American Financial Corp has a one year low of $35.28 and a one year high of $43.77. The stock has a 50 day moving average of $39.73 and a 200-day moving average of $38.50.
First American Financial Corp (NYSE:FAF) last issued its quarterly earnings results on Thursday, April 27th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. First American Financial Corp had a return on equity of 12.08% and a net margin of 6.15%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that First American Financial Corp will post $3.27 EPS for the current year.
Several equities research analysts have issued reports on FAF shares. Zacks Investment Research raised First American Financial Corp from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Monday, May 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $39.00 price target on shares of First American Financial Corp in a research note on Wednesday, April 19th.
In other First American Financial Corp news, CEO Dennis J. Gilmore sold 100,000 shares of First American Financial Corp stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $39.79, for a total transaction of $3,979,000.00. Following the completion of the sale, the chief executive officer now owns 772,295 shares of the company’s stock, valued at $30,729,618.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
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About First American Financial Corp
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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