First American Financial Corporation (NYSE:FAF) Declares Quarterly Dividend of $0.55

First American Financial Corporation (NYSE:FAF) declared a quarterly dividend on Tuesday, November 4th. Investors of record on Monday, December 8th will be paid a dividend of 0.55 per share by the insurance provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, December 8th.

First American Financial has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 15 years. First American Financial has a payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. 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 $2.20 annual dividend with an expected future payout ratio of 37.5%.

First American Financial Price Performance

First American Financial stock traded down $0.77 during midday trading on Wednesday, reaching $61.90. The company had a trading volume of 53,138 shares, compared to its average volume of 848,055. The company has a market capitalization of $6.31 billion, a P/E ratio of 13.34 and a beta of 1.27. First American Financial has a 12-month low of $53.09 and a 12-month high of $70.92. The firm’s fifty day simple moving average is $63.82 and its 200-day simple moving average is $61.30.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.42. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. First American Financial’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. On average, analysts expect that First American Financial will post 5.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FAF shares. Truist Financial raised their price target on shares of First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Barclays raised their target price on shares of First American Financial from $70.00 to $71.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Weiss Ratings raised shares of First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen raised shares of First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

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.