First American Financial Co. (FAF) to Issue Quarterly Dividend of $0.54 on June 16th

First American Financial Co. (NYSE:FAF) declared a quarterly dividend on Tuesday, May 13th, RTT News reports. Stockholders of record on Monday, June 9th will be given a dividend of 0.54 per share by the insurance provider on Monday, June 16th. This represents a $2.16 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, June 9th.

First American Financial has increased its dividend payment by an average of 3.3% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. First American Financial has a dividend payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.86 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 36.9%.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $59.39 on Thursday. First American Financial has a 52 week low of $51.85 and a 52 week high of $70.92. The company has a market capitalization of $6.11 billion, a PE ratio of 47.51 and a beta of 1.29. The company has a 50 day moving average price of $61.96 and a two-hundred day moving average price of $63.34.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.19. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. First American Financial had a net margin of 2.14% and a return on equity of 9.35%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. On average, sell-side analysts forecast that First American Financial will post 5.35 earnings per share for the current year.

Insider Activity at First American Financial

In other First American Financial news, Director Dennis J. Gilmore sold 111,971 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $63.60, for a total transaction of $7,121,355.60. Following the sale, the director now owns 494,574 shares of the company’s stock, valued at $31,454,906.40. The trade was a 18.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Lisa W. Cornehl sold 3,057 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $65.49, for a total transaction of $200,202.93. Following the completion of the transaction, the senior vice president now directly owns 23,825 shares in the company, valued at approximately $1,560,299.25. The trade was a 11.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,707 shares of company stock worth $8,136,565. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stephens upped their price target on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods lifted their price objective on shares of First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. StockNews.com downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Barclays increased their target price on shares of First American Financial from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, First American Financial currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.