Amalgamated Bank grew its stake in shares of First American Financial Corp (NYSE:FAF) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,768 shares of the insurance provider’s stock after purchasing an additional 1,238 shares during the quarter. Amalgamated Bank’s holdings in First American Financial were worth $1,220,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of FAF. Crossmark Global Holdings Inc. acquired a new position in shares of First American Financial during the third quarter worth about $789,000. State Board of Administration of Florida Retirement System lifted its stake in shares of First American Financial by 11.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 145,208 shares of the insurance provider’s stock worth $7,256,000 after purchasing an additional 14,923 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of First American Financial during the third quarter worth about $733,000. Boston Partners lifted its stake in shares of First American Financial by 1.7% during the third quarter. Boston Partners now owns 694,238 shares of the insurance provider’s stock worth $34,692,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of First American Financial by 2.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 41,155 shares of the insurance provider’s stock worth $2,057,000 after purchasing an additional 1,038 shares in the last quarter. Institutional investors own 84.91% of the company’s stock.
A number of research analysts have commented on FAF shares. Zacks Investment Research cut First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. ValuEngine upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reduced their price objective on First American Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Finally, Stephens upgraded First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $57.33.
First American Financial (NYSE:FAF) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. First American Financial had a return on equity of 13.92% and a net margin of 7.33%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. analysts predict that First American Financial Corp will post 4.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, March 7th. First American Financial’s payout ratio is 55.27%.
First American Financial Profile
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.
Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.