First American Financial Corp (FAF) To Go Ex-Dividend on September 6th
First American Financial Corp (NYSE:FAF) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Shareholders of record on Monday, September 9th will be paid a dividend of 0.42 per share by the insurance provider on Monday, September 16th. This represents a $1.68 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, September 6th.
First American Financial has increased its dividend payment by an average of 17.0% annually over the last three years and has increased its dividend every year for the last 7 years. First American Financial has a payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First American Financial to earn $5.02 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 33.5%.
Shares of FAF opened at $56.07 on Thursday. The business’s 50-day moving average is $55.68. First American Financial has a twelve month low of $41.96 and a twelve month high of $58.82. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.07 and a beta of 0.91.
Several brokerages recently issued reports on FAF. Susquehanna Bancshares began coverage on shares of First American Financial in a research note on Wednesday, June 19th. They set a “positive” rating and a $73.00 price objective on the stock. Piper Jaffray Companies set a $68.00 price objective on shares of First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays set a $68.00 price objective on shares of First American Financial and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Compass Point set a $60.00 price objective on shares of First American Financial and gave the company a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. First American Financial has a consensus rating of “Buy” and a consensus price target of $66.00.
In other First American Financial news, COO Christopher Michael Leavell sold 10,006 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $57.99, for a total transaction of $580,247.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.00% 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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