Finance of America Companies (NYSE:FOA) Earns “Buy” Rating from B. Riley Financial

Finance of America Companies (NYSE:FOA)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $32.00 price target on the stock, up from their prior price target of $25.00. B. Riley Financial’s price target would indicate a potential upside of 38.06% from the company’s current price.

A number of other brokerages have also issued reports on FOA. Weiss Ratings raised shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Wall Street Zen cut shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, 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 price target on the stock. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Finance of America Companies currently has an average rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Price Performance

Shares of FOA stock traded down $0.58 on Wednesday, hitting $23.18. 15,743 shares of the stock traded hands, compared to its average volume of 76,852. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. Finance of America Companies has a 52 week low of $15.77 and a 52 week high of $29.79. The firm has a 50 day simple moving average of $22.83 and a two-hundred day simple moving average of $21.14. The firm has a market cap of $206.05 million, a price-to-earnings ratio of 57.39 and a beta of 1.65.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The business had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. As a group, equities research analysts predict that Finance of America Companies will post 4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40. Following the transaction, the executive owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,838 shares of company stock valued at $431,968 in the last ninety days. Insiders own 35.37% of the company’s stock.

Institutional Trading of Finance of America Companies

Several hedge funds have recently modified their holdings of FOA. Bank of America Corp DE boosted its stake in Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $3,188,000 after buying an additional 54,429 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Finance of America Companies by 4,270.8% in the second 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. American Century Companies Inc. grew its stake in shares of 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 acquiring an additional 2,636 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Finance of America Companies in the 2nd quarter valued at approximately $103,000. 97.20% of the stock is owned by hedge funds and other institutional investors.

About Finance of America Companies

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.