Alpine Bank Wealth Management Makes New $28,000 Investment in First American Financial Corporation (NYSE:FAF)

Alpine Bank Wealth Management bought a new stake in shares of First American Financial Corporation (NYSE:FAF) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 424 shares of the insurance provider’s stock, valued at approximately $28,000.

Other hedge funds have also made changes to their positions in the company. Lecap Asset Management Ltd. increased its stake in shares of First American Financial by 208.0% during the first quarter. Lecap Asset Management Ltd. now owns 22,330 shares of the insurance provider’s stock valued at $1,466,000 after buying an additional 15,079 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in First American Financial by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,223 shares of the insurance provider’s stock worth $1,458,000 after acquiring an additional 1,655 shares in the last quarter. State of Alaska Department of Revenue increased its position in First American Financial by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,068 shares of the insurance provider’s stock valued at $792,000 after purchasing an additional 320 shares during the period. Brighton Jones LLC bought a new stake in shares of First American Financial in the 1st quarter valued at about $220,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of First American Financial by 6.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,626,142 shares of the insurance provider’s stock worth $106,724,000 after purchasing an additional 95,165 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FAF shares. Keefe, Bruyette & Woods boosted their price objective on shares of First American Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Barclays lifted their price target on First American Financial from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Finally, Wall Street Zen lowered First American Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.00.

First American Financial Stock Performance

NYSE:FAF opened at $61.28 on Friday. The company’s 50-day simple moving average is $58.67 and its 200-day simple moving average is $61.50. First American Financial Corporation has a fifty-two week low of $52.39 and a fifty-two week high of $70.92. The stock has a market capitalization of $6.31 billion, a P/E ratio of 40.58 and a beta of 1.22.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.19. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. First American Financial had a net margin of 2.52% and a return on equity of 10.05%. First American Financial’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. On average, research analysts forecast that First American Financial Corporation will post 5.35 EPS for the current year.

First American Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.54 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.52%. First American Financial’s payout ratio is 143.05%.

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.