OLD National Bancorp IN Sells 11,106 Shares of First American Financial Corporation $FAF

OLD National Bancorp IN reduced its position in shares of First American Financial Corporation (NYSE:FAF) by 28.1% in the fourth quarter, HoldingsChannel reports. The firm owned 28,430 shares of the insurance provider’s stock after selling 11,106 shares during the quarter. OLD National Bancorp IN’s holdings in First American Financial were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in FAF. V Square Quantitative Management LLC bought a new stake in shares of First American Financial during the 4th quarter valued at about $27,000. SJS Investment Consulting Inc. grew its stake in shares of First American Financial by 2,887.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 478 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 462 shares during the period. First Horizon Corp bought a new stake in shares of First American Financial during the 3rd quarter valued at about $37,000. Tripletail Wealth Management LLC bought a new stake in shares of First American Financial during the 3rd quarter valued at about $41,000. Finally, Danske Bank A S bought a new stake in shares of First American Financial during the 3rd quarter valued at about $45,000. 89.05% of the stock is currently owned by institutional investors.

First American Financial Trading Up 3.0%

Shares of NYSE:FAF opened at $70.90 on Friday. The stock has a 50 day moving average of $64.31 and a 200 day moving average of $63.39. The company has a market cap of $7.25 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.71 and a beta of 1.28. First American Financial Corporation has a 12-month low of $53.09 and a 12-month high of $71.47.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.27. First American Financial had a return on equity of 12.59% and a net margin of 8.73%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.84 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that First American Financial Corporation will post 6.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First American Financial news, Director Parker S. Kennedy purchased 44,841 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $67.85 per share, with a total value of $3,042,461.85. Following the acquisition, the director owned 251,552 shares in the company, valued at approximately $17,067,803.20. This trade represents a 21.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

FAF has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of First American Financial in a research note on Friday, February 13th. Barclays boosted their price objective on First American Financial from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Stephens upgraded First American Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $81.00 in a research note on Monday, March 2nd. Wall Street Zen upgraded First American Financial from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Truist Financial boosted their price objective on First American Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, First American Financial currently has a consensus rating of “Buy” and an average price target of $81.75.

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.