Absolutely!
The gifts of faith, hope & love are conferred into our hearts at Baptism as well as the indelible mark of God, receiving us into His Church.
However, our understanding of the faith given as baptism is different in a sense to the faith of a believing, mature, adult.
We receive Jesus into our hearts at baptism - who is the ultimate faithful man and this gift is, in a baby, a tendency towards faith in Jesus and God as he or she grows up rather than the consenting belief (of which a baby is obviously incapable.)
In simplest terms, baptism is a wonderful thing. As well as receiving the Trinity into our hearts, it gives our sons & daughters an affection and a tendency towards the good and holy things of this life. A temptation to do good, if you like.