First American Financial Corp (NYSE:FAF) Short Interest Update

First American Financial Corp (NYSE:FAF) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 1,737,500 shares, a growth of 37.1% from the May 15th total of 1,267,000 shares. Based on an average daily trading volume, of 622,700 shares, the short-interest ratio is currently 2.8 days. Currently, 1.6% of the shares of the stock are short sold.

FAF has been the subject of a number of recent research reports. Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, April 16th. ValuEngine upgraded First American Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Compass Point lowered First American Financial from a “buy” rating to a “neutral” rating and set a $57.88 price target on the stock. in a research report on Monday, April 29th. Piper Jaffray Companies upgraded First American Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $59.00 to $67.00 in a research report on Monday, April 1st. Finally, Susquehanna Bancshares assumed coverage on First American Financial in a research report on Wednesday, June 19th. They issued a “positive” rating and a $73.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.31.

Shares of First American Financial stock traded down $2.03 on Wednesday, hitting $53.09. 709,521 shares of the company’s stock traded hands, compared to its average volume of 591,237. First American Financial has a one year low of $41.96 and a one year high of $58.29. The firm’s fifty day moving average price is $53.97. The company has a market cap of $6.17 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.06 and a beta of 0.93.

First American Financial (NYSE:FAF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. First American Financial had a return on equity of 14.51% and a net margin of 8.83%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that First American Financial will post 4.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.42 per share. The ex-dividend date was Friday, June 7th. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. First American Financial’s payout ratio is 36.68%.

In other First American Financial news, COO Christopher Michael Leavell sold 35,235 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $54.44, for a total value of $1,918,193.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth D. Degiorgio sold 26,658 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $57.00, for a total value of $1,519,506.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,293 shares of company stock valued at $3,519,235 in the last three months. 3.00% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc boosted its position in shares of First American Financial by 3.0% during the 3rd quarter. Vanguard Group Inc now owns 11,076,254 shares of the insurance provider’s stock valued at $571,423,000 after purchasing an additional 327,142 shares in the last quarter. BlackRock Inc. raised its stake in First American Financial by 2.3% during the 1st quarter. BlackRock Inc. now owns 10,849,296 shares of the insurance provider’s stock worth $558,739,000 after buying an additional 239,202 shares during the period. FMR LLC raised its stake in First American Financial by 19.3% during the 4th quarter. FMR LLC now owns 9,135,859 shares of the insurance provider’s stock worth $407,825,000 after buying an additional 1,477,309 shares during the period. Lunia Capital LP raised its stake in First American Financial by 2,384.2% during the 4th quarter. Lunia Capital LP now owns 6,088,762 shares of the insurance provider’s stock worth $6,089,000 after buying an additional 5,843,667 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in First American Financial by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,190,025 shares of the insurance provider’s stock worth $97,765,000 after buying an additional 195,946 shares during the period. Institutional investors own 83.03% of the company’s stock.

About First American Financial

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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