39,814 Shares in First American Financial Corporation $FAF Acquired by First National Bank of Omaha

Key Points

• First National Bank of Omaha acquired 39,814 shares of First American Financial worth approximately $2.7 million during the second quarter. Institutional investors and hedge funds own 89.05% of the company.
• Analyst sentiment remains positive overall, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $84.60.
• First American Financial exceeded quarterly expectations, reporting EPS of $2.08 versus the $1.80 consensus estimate and revenue of $2.11 billion, up 15% year over year.

First National Bank of Omaha acquired a new position in shares of First American Financial Corporation (NYSE:FAF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,814 shares of the insurance provider's stock, valued at approximately $2,731,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of First American Financial during the 2nd quarter worth $643,570,000. Northwestern Mutual Wealth Management Co. raised its stake in First American Financial by 4,485,375.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,786,263 shares of the insurance provider's stock valued at $355,508,000 after purchasing an additional 5,786,134 shares in the last quarter. Norges Bank bought a new stake in First American Financial during the fourth quarter worth about $75,011,000. Mendon Capital Advisors Corp bought a new stake in First American Financial during the first quarter worth about $71,680,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in First American Financial by 469.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider's stock worth $77,438,000 after buying an additional 1,058,949 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FAF has been the topic of several recent analyst reports. Wall Street Zen lowered shares of First American Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Barclays upped their price target on shares of First American Financial from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Zacks Research lowered shares of First American Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Stephens reissued an "overweight" rating and issued a $84.00 price objective on shares of First American Financial in a research note on Friday, June 12th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of First American Financial in a research report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, First American Financial currently has a consensus rating of "Moderate Buy" and an average price target of $84.60.

First American Financial Price Performance

Shares of First American Financial stock opened at $72.50 on Wednesday. The company's 50 day moving average price is $71.06 and its two-hundred day moving average price is $67.52. The firm has a market capitalization of $7.40 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.68 and a beta of 1.22. First American Financial Corporation has a fifty-two week low of $56.20 and a fifty-two week high of $79.87.

First American Financial (NYSE:FAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that First American Financial Corporation will post 7.11 earnings per share for the current year.

Insiders Place Their Bets

In other First American Financial news, CAO Steven A. Adams sold 3,253 shares of the company's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer owned 10,234 shares of the company's stock, valued at $767,447.66. This represents a 24.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is owned by corporate insiders.

First American Financial 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.

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