Could First American Financial Corp (FAF) Change Direction After This Bullish Multiple Top Chart Pattern

September 17, 2017 - By Nellie Frank

Investors sentiment increased to 1.32 in Q4 2016. Its up 0.05, from 1.27 in 2016Q3. It is positive, as 23 investors sold First American Financial Corp shares while 96 reduced holdings. 52 funds opened positions while 105 raised stakes. 93.65 million shares or 1.06% more from 92.67 million shares in 2016Q3 were reported.
Crow Point Ptnrs Ltd Com reported 0.01% of its portfolio in First American Financial Corp (NYSE:FAF). Moreover, Lsv Asset Management has 0.02% invested in First American Financial Corp (NYSE:FAF) for 231,865 shares. Commonwealth Of Pennsylvania School Empls Retrmt System reported 16,259 shares. State Board Of Administration Of Florida Retirement System has 108,015 shares. Public Employees Retirement Association Of Colorado holds 0.01% or 26,437 shares in its portfolio. Teachers Retirement System Of The State Of Kentucky holds 0.01% or 28,800 shares. Sei Invs reported 396 shares stake. Connor Clark Lunn Mgmt, British Columbia – Canada-based fund reported 22,550 shares. Carroll Financial Associates Incorporated owns 800 shares for 0% of their portfolio. Winslow Evans Crocker has 0% invested in First American Financial Corp (NYSE:FAF) for 400 shares. 361,713 are held by Wells Fargo Mn. First Tru Advsr Limited Partnership has 279,477 shares. Ubs Asset Mgmt Americas reported 0% of its portfolio in First American Financial Corp (NYSE:FAF). Acadian Asset Ltd holds 12 shares. Voya Invest Ltd Limited Liability Company stated it has 0.05% of its portfolio in First American Financial Corp (NYSE:FAF).

The stock of First American Financial Corp (FAF) shows a multiple tops pattern with $50.54 target or 3.00 % above today’s $49.07 share price. The 9 months chart pattern indicates low risk for the $5.43B company. It was reported on Sep, 17 by Finviz.com. If the $50.54 price target is reached, the company will be worth $162.90 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.64% or $0.31 on September 15, reaching $49.07. About 1.17 million shares traded or 111.87% up from the average. First American Financial Corp (NYSE:FAF) has risen 15.34% since September 17, 2016 and is uptrending. It has underperformed by 1.36% the S&P500.

Analysts await First American Financial Corp (NYSE:FAF) to report earnings on October, 26 before the open. They expect $1.00 EPS, up 4.17 % or $0.04 from last year’s $0.96 per share. FAF’s profit will be $110.66 million for 12.27 P/E if the $1.00 EPS becomes a reality. After $0.98 actual EPS reported by First American Financial Corp for the previous quarter, Wall Street now forecasts 2.04 % EPS growth.

First American Financial Corp (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 14 analyst reports since September 25, 2015 according to SRatingsIntel. On Friday, November 13 the stock rating was initiated by Topeka Capital Markets with “Hold”. The stock of First American Financial Corp (NYSE:FAF) earned “Positive” rating by Susquehanna on Tuesday, October 20. The rating was initiated by Sterne Agee CRT on Thursday, December 17 with “Buy”. The firm has “Neutral” rating given on Friday, September 25 by Piper Jaffray. As per Wednesday, January 13, the company rating was downgraded by Goldman Sachs. Macquarie Research initiated the stock with “Outperform” rating in Friday, December 18 report. The rating was initiated by Oppenheimer on Friday, December 11 with “Outperform”. The stock of First American Financial Corp (NYSE:FAF) has “Neutral” rating given on Friday, November 13 by Robert W. Baird. The company was initiated on Thursday, December 10 by Bernstein. The firm earned “Overweight” rating on Friday, February 12 by Barclays Capital.

More notable recent First American Financial Corp (NYSE:FAF) news were published by: Nasdaq.com which released: “The Zacks Analyst Blog Highlights: First American Financial, Hanover Insurance …” on September 13, 2017, also Nasdaq.com with their article: “The Zacks Analyst Blog Highlights: Caterpillar, Principal Financial Group …” published on September 06, 2017, Fortune.com published: “First American Financial Corporation” on September 15, 2017. More interesting news about First American Financial Corp (NYSE:FAF) were released by: Businesswire.com and their article: “First American Ranked among the Best Workplaces for Women by Fortune and Great …” published on September 15, 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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