First American Financial Co. (NYSE:FAF) Sees Significant Growth in Short Interest

First American Financial Co. (NYSE:FAF) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,710,000 shares, an increase of 61.3% from the February 28th total of 1,060,000 shares. Based on an average daily trading volume, of 592,700 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

FAF has been the subject of several research reports. Stephens boosted their target price on First American Financial from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on First American Financial from $74.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th.

First American Financial Price Performance

Shares of First American Financial stock traded down $0.80 on Friday, hitting $65.68. 513,600 shares of the company’s stock traded hands, compared to its average volume of 632,929. The firm’s 50-day moving average price is $63.88 and its two-hundred day moving average price is $64.40. The stock has a market capitalization of $6.77 billion, a PE ratio of 52.54 and a beta of 1.34. First American Financial has a one year low of $51.60 and a one year high of $70.92.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Wednesday, February 12th. The insurance provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.22. First American Financial had a return on equity of 9.35% and a net margin of 2.14%. On average, analysts forecast that First American Financial will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.29%. First American Financial’s dividend payout ratio is 172.80%.

Insider Activity

In other First American Financial news, Director Dennis J. Gilmore sold 111,971 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $63.60, for a total value of $7,121,355.60. Following the completion of the sale, the director now owns 494,574 shares in the company, valued at approximately $31,454,906.40. This trade represents a 18.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Edward Seaton sold 12,679 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $64.28, for a total transaction of $815,006.12. Following the completion of the transaction, the chief financial officer now directly owns 195,812 shares of the company’s stock, valued at approximately $12,586,795.36. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,707 shares of company stock worth $8,136,565. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FAF. UMB Bank n.a. raised its holdings in First American Financial by 66.9% in the fourth quarter. UMB Bank n.a. now owns 524 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 210 shares during the period. Jones Financial Companies Lllp increased its position in shares of First American Financial by 57.6% in the 4th quarter. Jones Financial Companies Lllp now owns 670 shares of the insurance provider’s stock valued at $42,000 after buying an additional 245 shares in the last quarter. GAMMA Investing LLC raised its stake in First American Financial by 34.9% during the 4th quarter. GAMMA Investing LLC now owns 1,071 shares of the insurance provider’s stock worth $67,000 after buying an additional 277 shares during the period. Sunbelt Securities Inc. bought a new position in First American Financial during the third quarter worth about $75,000. Finally, Parkside Financial Bank & Trust lifted its holdings in First American Financial by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,340 shares of the insurance provider’s stock worth $84,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.

First American Financial Company Profile

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.