Finance of America Companies (NYSE:FOA) Raised to “Hold” at 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 report released on Monday.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Finance of America Companies in a research report on Monday, December 29th. B. Riley Financial began coverage on Finance of America Companies in a research report on Thursday. They issued a “buy” rating and a $22.50 price target on the stock. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Finance of America Companies Stock Up 0.2%

Shares of NYSE FOA opened at $17.76 on Monday. Finance of America Companies has a 1 year low of $15.77 and a 1 year high of $29.58. The firm’s 50-day moving average is $19.62 and its 200-day moving average is $21.86. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80. The firm has a market capitalization of $151.86 million, a PE ratio of 9.11 and a beta of 1.70.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. The business had revenue of $73.51 million during the quarter, compared to the consensus estimate of $109.45 million. Equities analysts expect that Finance of America Companies will post 0.75 EPS for the current year.

Insider Activity at Finance of America Companies

In other news, CAO Tai A. Thornock sold 1,100 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $24.58, for a total transaction of $27,038.00. Following the completion of the sale, the chief accounting officer owned 10,650 shares of the company’s stock, valued at $261,777. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Urban Holdings L.L.C. Bto sold 1,596,142 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,200,134 shares of company stock worth $32,067,351 over the last ninety days. 25.00% of the stock is owned by corporate insiders.

Institutional Trading of Finance of America Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Finance of America Companies during the third quarter worth about $29,000. JPMorgan Chase & Co. grew its holdings in shares of Finance of America Companies by 4,270.8% during the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after buying an additional 2,050 shares in the last quarter. Bank of America Corp DE raised its position in 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 buying an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Finance of America Companies in the 2nd quarter valued at approximately $57,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

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.