First American Financial (NYSE:FAF) Sets New 12-Month High at $61.81

First American Financial Co. (NYSE:FAF)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $61.81 and last traded at $61.79, with a volume of 11432 shares traded. The stock had previously closed at $61.29.

FAF has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, January 19th. Susquehanna Bancshares raised their target price on shares of First American Financial from $63.00 to $67.00 and gave the stock a “positive” rating in a research report on Friday, February 12th. Truist Securities raised their target price on shares of First American Financial from $66.00 to $72.00 in a research report on Thursday, April 15th. Barclays raised their target price on shares of First American Financial from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. Finally, Truist Financial raised their price target on shares of First American Financial from $66.00 to $72.00 in a report on Thursday, April 15th. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $65.25.

The company has a market cap of $6.98 billion, a PE ratio of 11.24 and a beta of 1.13. The business’s 50 day moving average price is $56.99 and its 200-day moving average price is $53.14.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, April 22nd. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.75 billion. First American Financial had a net margin of 9.61% and a return on equity of 13.06%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. On average, equities research analysts predict that First American Financial Co. will post 5.62 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in shares of First American Financial during the first quarter valued at approximately $549,000. Reinhart Partners Inc. increased its stake in shares of First American Financial by 15.6% in the first quarter. Reinhart Partners Inc. now owns 526,965 shares of the insurance provider’s stock worth $29,852,000 after buying an additional 70,952 shares during the last quarter. OLD National Bancorp IN increased its stake in shares of First American Financial by 14.8% in the first quarter. OLD National Bancorp IN now owns 63,034 shares of the insurance provider’s stock worth $3,571,000 after buying an additional 8,132 shares during the last quarter. Penbrook Management LLC increased its stake in shares of First American Financial by 1.6% in the first quarter. Penbrook Management LLC now owns 12,450 shares of the insurance provider’s stock worth $528,000 after buying an additional 200 shares during the last quarter. Finally, NEXT Financial Group Inc increased its stake in shares of First American Financial by 987.9% in the first quarter. NEXT Financial Group Inc now owns 6,571 shares of the insurance provider’s stock worth $372,000 after buying an additional 5,967 shares during the last quarter. Institutional investors own 83.32% of the company’s stock.

About First American Financial (NYSE:FAF)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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