Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. First American Financial Corp shares valued at $101,160 were sold by Adams Steven a on Nov 15 ’23. At $56.20 per share, Adams Steven a sold 1,800 shares. The insider’s holdings dropped to 7,487 shares worth approximately $0.43 million following the completion of this transaction.
As published in a research note from Keefe Bruyette on March 21, 2024, First American Financial Corp [FAF] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $69 from $66. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in early January. As of November 15, 2023, Barclays has initiated its “an Equal weight” rating for FAF.
Analyzing FAF Stock Performance
During the last five days, there has been a drop of approximately -5.61%. Over the course of the year, First American Financial Corp shares have dropped approximately -11.75%. Shares of the company reached a 52-week high of $64.25 on 01/02/24 and a 52-week low of $54.27 on 03/19/24. A 50-day SMA is recorded $58.25, while a 200-day SMA reached $58.69. Nevertheless, trading volume fell to 1.1 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for First American Financial Corp (FAF)
According to the 24-hour chart, there is a support level at 55.49, which, if violated, would cause prices to drop to 54.10. In the upper region, resistance lies at 57.96. The next price resistance is at 59.04. RSI (Relative Strength Index) is 43.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.66, which suggests the price will decrease in the coming days. Percent R is at 67.91%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is First American Financial Corp subject to short interest?
Stocks of First American Financial Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.43 million shares to 1.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.34 million shares. A jump of 24.29% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.23.
