Finance of America Companies (NYSE:FOA) Stock Rating Upgraded by Wall Street Zen

Finance of America Companies (NYSE:FOA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also recently weighed in on FOA. Zacks Research cut shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Alliance Global Partners started coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Finally, Weiss Ratings cut shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.50.

Finance of America Companies Stock Performance

Shares of Finance of America Companies stock opened at $21.88 on Friday. The business has a 50-day moving average of $23.20 and a 200 day moving average of $21.03. Finance of America Companies has a 12 month low of $15.77 and a 12 month high of $29.79. The stock has a market capitalization of $378.66 million, a price-to-earnings ratio of -7.27 and a beta of 1.66. The company has a debt-to-equity ratio of 60.78, a current ratio of 3.02 and a quick ratio of 3.02.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. As a group, sell-side analysts forecast that Finance of America Companies will post 4.16 earnings per share for the current year.

Insiders Place Their Bets

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $21.73, for a total value of $130,380.00. Following the completion of the transaction, the executive owned 179,856 shares in the company, valued at $3,908,270.88. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,360 shares of company stock valued at $483,709 over the last three months. 35.37% of the stock is owned by insiders.

Institutional Trading of Finance of America Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after purchasing an additional 2,242 shares during the last quarter. Geode Capital Management LLC grew its stake in Finance of America Companies by 66.2% during the 2nd quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after buying an additional 54,429 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Finance of America Companies by 4,270.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after buying an additional 2,050 shares during the last quarter. American Century Companies Inc. increased its position in Finance of America Companies by 3.1% during the second quarter. American Century Companies Inc. now owns 88,554 shares of the company’s stock worth $2,065,000 after buying an additional 2,636 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Finance of America Companies during the second quarter worth approximately $103,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies (NYSE: FOA) is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers. The company operates across multiple business segments, delivering home financing solutions, retirement products and specialized lending services through a blend of digital and traditional distribution channels.

In its mortgage segment, FOA originates and purchases a range of home loans including purchase, refinance, FHA, VA and USDA loans.