Finance of America Companies (NYSE:FOA) Announces Quarterly Earnings Results

Finance of America Companies (NYSE:FOA) posted its quarterly earnings data on Tuesday. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.66, Zacks reports. The company had revenue of $80.85 million for the quarter, compared to analyst estimates of $101.91 million.

Finance of America Companies Stock Up 4.5%

Shares of NYSE FOA traded up $0.99 during trading hours on Wednesday, hitting $22.93. The stock had a trading volume of 35,337 shares, compared to its average volume of 117,789. The company has a market capitalization of $254.06 million, a P/E ratio of 3.76 and a beta of 1.52. The firm’s 50-day moving average price is $23.77 and its two-hundred day moving average price is $23.18. Finance of America Companies has a 52 week low of $13.43 and a 52 week high of $32.40. The company has a debt-to-equity ratio of 39.38, a quick ratio of 2.69 and a current ratio of 2.69.

Insider Activity at Finance of America Companies

In related news, CAO Tai A. Thornock sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.87, for a total value of $28,457.00. Following the completion of the sale, the chief accounting officer owned 15,050 shares of the company’s stock, valued at approximately $389,343.50. The trade was a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 25.00% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after purchasing an additional 54,429 shares during the last quarter. American Century Companies Inc. grew its stake in Finance of America Companies by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 88,554 shares of the company’s stock valued at $2,065,000 after buying an additional 2,636 shares during the last quarter. Bank of America Corp DE raised its holdings in Finance of America Companies by 681.8% in the 2nd quarter. Bank of America Corp DE now owns 42,209 shares of the company’s stock worth $984,000 after acquiring an additional 36,810 shares during the period. New York State Common Retirement Fund bought a new position in Finance of America Companies in the 2nd quarter worth $103,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Finance of America Companies during the 2nd quarter worth $57,000. Institutional investors own 97.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Finance of America Companies in a report on Wednesday, October 8th. UBS Group restated a “neutral” rating and set a $25.00 price objective (up previously from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Finance of America Companies from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Finance of America Companies currently has a consensus rating of “Hold” and an average price target of $27.50.

Finance of America Companies Company Profile

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.