Truist Securities Raises First American Financial (NYSE:FAF) Price Target to $92.00

First American Financial (NYSE:FAF) had its price target boosted by analysts at Truist Securities from $84.00 to $92.00 in a research report issued on Thursday, Stock Target Advisor reports. Truist Securities’ price objective points to a potential upside of 15.67% from the company’s previous close. Truist Securities also issued estimates for First American Financial’s Q4 2021 earnings at $1.75 EPS, FY2021 earnings at $7.67 EPS, Q1 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.64 EPS and FY2022 earnings at $6.55 EPS.

Several other brokerages have also issued reports on FAF. Cantor Fitzgerald reduced their target price on shares of First American Financial from $13.00 to $10.40 and set an “overweight” rating on the stock in a research note on Wednesday, December 15th. Truist raised their target price on shares of First American Financial from $84.00 to $92.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, First American Financial has an average rating of “Buy” and an average target price of $69.93.

FAF opened at $79.54 on Thursday. The stock has a market capitalization of $8.73 billion, a PE ratio of 7.03 and a beta of 1.21. First American Financial has a 1-year low of $48.69 and a 1-year high of $81.54. The firm has a 50-day moving average price of $76.69 and a two-hundred day moving average price of $71.18.

First American Financial (NYSE:FAF) last issued its earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.29. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.04 billion. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 EPS. On average, sell-side analysts expect that First American Financial will post 7.56 EPS for the current fiscal year.

In other First American Financial news, President Kenneth D. Degiorgio sold 15,739 shares of the firm’s stock in a transaction that occurred on Friday, October 22nd. The shares were sold at an average price of $74.71, for a total transaction of $1,175,860.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Kenneth D. Degiorgio sold 10,400 shares of First American Financial stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $74.50, for a total transaction of $774,800.00. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in shares of First American Financial in the second quarter valued at approximately $1,172,000. Westpac Banking Corp raised its holdings in shares of First American Financial by 106.3% in the second quarter. Westpac Banking Corp now owns 6,600 shares of the insurance provider’s stock valued at $412,000 after purchasing an additional 3,400 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of First American Financial by 219.5% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 65,068 shares of the insurance provider’s stock valued at $4,057,000 after purchasing an additional 44,701 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of First American Financial in the second quarter valued at approximately $946,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of First American Financial by 31.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 777,450 shares of the insurance provider’s stock valued at $52,128,000 after purchasing an additional 184,045 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

About First American Financial

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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