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"While we are positive on the longer-term outlook, we expect industry mortgage volumes to trend down over the next 12-18 months," Keefe, Bruyette & Woods analysts wrote in a March 1 report. "Over the long-term, we believe strong title insurers, such as FAF, should provide an attractive way to get exposure to a recovery in the purchase mortgage market."
Shares of First American Financial hit a 52-week high Friday of $17.30. The stock's 52-week low of $10.51 was set on Nov. 25.
First American Financial's forward P/E is 14.23; the average for property and casualty insurance companies is 15.66. For comparison,
Progressive(PGR) has a lower forward P/E of 13.46.
Two of the four analysts who cover First American Financial rated it hold. One analyst gave the stock a buy rating and another rated it hold.
TheStreet Ratings gives First American Financial a
C grade and hold rating. The stock has risen 34.49% year to date.
-- Written by Alexandra Zendrian
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