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

First American Financial Corp (NYSE:FAF) saw a significant growth in short interest during the month of 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. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 622,700 shares, the days-to-cover ratio is currently 2.8 days.

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

NYSE FAF traded down $2.03 on Wednesday, hitting $53.09. 709,521 shares of the stock traded hands, compared to its average volume of 591,237. The stock’s fifty day simple moving average is $53.97. First American Financial has a 12 month low of $41.96 and a 12 month high of $58.29. The company has a market cap of $6.17 billion, a price-to-earnings 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 quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.74 earnings per share 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company earned $0.67 earnings per share. First American Financial’s revenue was up .5% compared to the same quarter last year. On average, equities analysts forecast that First American Financial will post 4.74 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Friday, June 7th. First American Financial’s dividend payout ratio (DPR) is 36.68%.

In related news, COO Christopher Michael Leavell sold 35,235 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $54.44, for a total transaction of $1,918,193.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth D. Degiorgio sold 26,658 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 63,293 shares of company stock valued at $3,519,235 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of First American Financial by 9.4% in the fourth quarter. Bank of America Corp DE now owns 647,574 shares of the insurance provider’s stock worth $28,907,000 after acquiring an additional 55,668 shares during the period. JOYN Advisors Inc. boosted its holdings in shares of First American Financial by 540.0% in the fourth quarter. JOYN Advisors Inc. now owns 608 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 513 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of First American Financial by 1,170.5% in the first quarter. Quadrant Capital Group LLC now owns 991 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 913 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of First American Financial by 24.5% in the fourth quarter. Two Sigma Advisers LP now owns 358,974 shares of the insurance provider’s stock worth $16,025,000 after acquiring an additional 70,746 shares during the period. Finally, Fulcrum Equity Management bought a new position in shares of First American Financial in the fourth quarter worth $258,000. 83.03% of the stock is owned by institutional investors and hedge funds.

First American Financial Company Profile

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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