Alliance Global Partners Begins Coverage on Finance of America Companies (NYSE:FOA)

Stock analysts at Alliance Global Partners started coverage on shares of Finance of America Companies (NYSE:FOA) in a research note issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. Alliance Global Partners’ price objective points to a potential upside of 34.38% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a report on Monday, April 6th. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a report on Monday, April 6th. Finally, B. Riley Financial began coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Finance of America Companies has an average rating of “Hold” and an average target price of $27.33.

Finance of America Companies Stock Down 5.7%

Finance of America Companies stock opened at $22.32 on Wednesday. The stock has a market cap of $198.46 million, a PE ratio of 55.81 and a beta of 1.62. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. The stock’s fifty day moving average is $22.16 and its two-hundred day moving average is $21.13. Finance of America Companies has a 1-year low of $15.77 and a 1-year high of $29.79.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.26. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The business had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. On average, sell-side analysts expect that Finance of America Companies will post 4.59 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 company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the sale, the executive directly owned 203,856 shares of the company’s stock, valued at $4,177,009.44. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,838 shares of company stock worth $431,968 in the last 90 days. 35.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Finance of America Companies

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after acquiring an additional 822 shares during the period. Russell Investments Group Ltd. acquired a new stake in Finance of America Companies during the 3rd quarter worth $29,000. JPMorgan Chase & Co. grew its position 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 purchasing an additional 2,050 shares during the last quarter. Bank of America Corp DE grew its position in Finance of America Companies by 3,503.1% during the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock worth $65,000 after purchasing an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Finance of America Companies during the 2nd quarter worth $57,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

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.