What’s Next for First American Financial Corporation (FAF) After Forming Double Top?

December 7, 2017 - By Migdalia James

Investors sentiment increased to 1.67 in Q2 2017. Its up 0.74, from 0.93 in 2017Q1. It improved, as 20 investors sold First American Financial Corporation shares while 80 reduced holdings. 49 funds opened positions while 118 raised stakes. 90.19 million shares or 2.11% less from 92.13 million shares in 2017Q1 were reported.
1.71 million were reported by Victory Cap Mngmt Incorporated. Private Advisor Group Incorporated Limited Liability Company reported 7,015 shares. 20,830 are held by United Svcs Automobile Association. Hamlin Capital Mngmt Ltd Llc has invested 2.63% of its portfolio in First American Financial Corporation (NYSE:FAF). Winslow Evans & Crocker reported 400 shares stake. Moreover, Northern Trust Corp has 0.02% invested in First American Financial Corporation (NYSE:FAF). Loomis Sayles And Communication Lp has invested 0.03% in First American Financial Corporation (NYSE:FAF). Sterling Cap Mgmt stated it has 41,042 shares or 0.02% of all its holdings. Cwh Capital Mngmt invested in 1.73% or 73,803 shares. Hbk Invs Limited Partnership holds 0% of its portfolio in First American Financial Corporation (NYSE:FAF) for 5,200 shares. Rwwm Incorporated invested in 15,417 shares. Us Comml Bank De owns 6,562 shares for 0% of their portfolio. 790,805 were accumulated by Schroder Mngmt Gru. Cls Ltd Com owns 32 shares. Oppenheimer Asset Inc has invested 0% in First American Financial Corporation (NYSE:FAF).

The chart of First American Financial Corporation (FAF) shows a double top with $59.30 target or 7.00 % above today’s $55.42 share price. The 6 months chart pattern indicates low risk for the $6.14 billion company. It was reported on Dec, 7 by Finviz.com. If the $59.30 price target is reached, the company will be worth $429.87 million more. Double tops are rare but powerful chart patterns.

The stock increased 1.17% or $0.64 during the last trading session, reaching $55.42. About 281,686 shares traded. First American Financial Corporation (NYSE:FAF) has risen 15.34% since December 7, 2016 and is uptrending. It has underperformed by 1.36% the S&P500.

Analysts await First American Financial Corporation (NYSE:FAF) to report earnings on February, 8. They expect $0.91 earnings per share, down 1.09 % or $0.01 from last year’s $0.92 per share. FAF’s profit will be $100.84M for 15.23 P/E if the $0.91 EPS becomes a reality. After $1.12 actual earnings per share reported by First American Financial Corporation for the previous quarter, Wall Street now forecasts -18.75 % negative EPS growth.

First American Financial Corporation (NYSE:FAF) Ratings Coverage

Among 14 analysts covering First American Financial (NYSE:FAF), 7 have Buy rating, 1 Sell and 6 Hold. Therefore 50% are positive. First American Financial had 15 analyst reports since September 25, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Friday, November 13 by Topeka Capital Markets. Credit Suisse initiated First American Financial Corporation (NYSE:FAF) on Friday, December 11 with “Neutral” rating. The rating was downgraded by Goldman Sachs to “Sell” on Wednesday, January 13. The stock of First American Financial Corporation (NYSE:FAF) has “Overweight” rating given on Friday, October 27 by Barclays Capital. The firm has “Overweight” rating given on Friday, February 12 by Barclays Capital. On Thursday, December 17 the stock rating was initiated by Sterne Agee CRT with “Buy”. The firm has “Neutral” rating given on Friday, September 25 by Piper Jaffray. As per Thursday, January 14, the company rating was initiated by Stifel Nicolaus. The firm has “Outperform” rating by Macquarie Research given on Friday, December 18. The firm has “Neutral” rating given on Friday, November 13 by Robert W. Baird.

More notable recent First American Financial Corporation (NYSE:FAF) news were published by: Prnewswire.com which released: “What’s Happening With These Insurance Stocks? — Progressive, Warrior Met Coal …” on December 05, 2017, also Fortune.com with their article: “First American Financial Corporation” published on September 15, 2017, Gurufocus.com published: “First American Financial Corp (FAF) CEO Dennis J Gilmore Sold $5.5 million of …” on November 10, 2017. More interesting news about First American Financial Corporation (NYSE:FAF) were released by: Businesswire.com and their article: “First American Ranked Among the Best Workplaces for Diversity by Fortune and …” published on December 05, 2017 as well as Seekingalpha.com‘s news article titled: “First American Financial – A Possible Dividend Growth Investment” with publication date: September 05, 2017.

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