Finance of America Companies (NYSE:FOA) Releases Earnings Results, Beats Estimates By $0.66 EPS

Finance of America Companies (NYSE:FOA) posted its earnings results on Tuesday. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.66, Zacks reports.

Finance of America Companies Price Performance

FOA traded down $0.22 during trading on Tuesday, reaching $21.99. 93,110 shares of the stock were exchanged, compared to its average volume of 114,283. The business’s 50 day moving average price is $23.89 and its two-hundred day moving average price is $23.16. The company has a debt-to-equity ratio of 39.38, a current ratio of 2.69 and a quick ratio of 2.69. The company has a market capitalization of $243.65 million, a price-to-earnings ratio of 11.39 and a beta of 1.52. Finance of America Companies has a 1 year low of $12.90 and a 1 year high of $32.40.

Insider Activity at Finance of America Companies

In related news, CAO Tai A. Thornock sold 1,100 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.87, for a total value of $28,457.00. Following the sale, the chief accounting officer directly owned 15,050 shares in the company, valued at $389,343.50. The trade was a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.00% of the stock is owned by corporate insiders.

Institutional Trading of Finance of America Companies

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 2,050 shares in the last quarter. Bank of America Corp DE lifted its stake 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Finance of America Companies in the second quarter valued at $57,000. New York State Common Retirement Fund purchased a new stake in shares of Finance of America Companies in the second quarter valued at $103,000. Finally, American Century Companies Inc. lifted its holdings in Finance of America Companies by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 88,554 shares of the company’s stock valued at $2,065,000 after purchasing an additional 2,636 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Wall Street Analysts Forecast Growth

FOA has been the topic of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Finance of America Companies in a research note on Wednesday, October 8th. Wall Street Zen downgraded Finance of America Companies from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.50.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.