Finance of America Companies Inc. (NYSE:FOA) Receives Consensus Rating of “Hold” from Analysts

Finance of America Companies Inc. (NYSE:FOA) has received an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $30.50.

Several research analysts have weighed in on the company. B. Riley Financial reaffirmed a “buy” rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Weiss Ratings downgraded Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Alliance Global Partners assumed coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price for the company. Zacks Research downgraded shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Saturday.

Finance of America Companies Trading Down 1.9%

Shares of NYSE:FOA opened at $21.88 on Friday. The company’s 50-day moving average price is $23.20 and its two-hundred day moving average price is $21.04. Finance of America Companies has a one year low of $15.77 and a one year high of $29.79. The company has a debt-to-equity ratio of 60.78, a current ratio of 3.02 and a quick ratio of 2.62. The stock has a market capitalization of $378.66 million, a PE ratio of -7.27 and a beta of 1.65.

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

Insider Activity at Finance of America Companies

In related news, CIO Jeremy Prahm sold 8,860 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $20.49, for a total transaction of $181,541.40. Following the transaction, the executive directly owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,360 shares of company stock worth $601,789. Insiders own 35.37% of the company’s stock.

Hedge Funds Weigh In On Finance of America Companies

Several institutional investors and hedge funds have recently modified their holdings of FOA. Caitong International Asset Management Co. Ltd raised its position in shares of Finance of America Companies by 183.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after purchasing an additional 822 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Finance of America Companies during the 3rd quarter worth about $29,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Finance of America Companies by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company’s stock worth $442,000 after buying an additional 1,397 shares during the period. Barclays PLC grew its stake in Finance of America Companies by 23.9% in the 4th quarter. Barclays PLC now owns 7,907 shares of the company’s stock valued at $191,000 after buying an additional 1,525 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Finance of America Companies by 4,270.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after buying an additional 2,050 shares during the last quarter. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.