Brokerages Set Finance of America Companies Inc. (NYSE:FOA) PT at $30.50

Shares of Finance of America Companies Inc. (NYSE:FOA) have received an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.50.

Several equities analysts recently issued reports on the stock. B. Riley Financial reiterated a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings lowered Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Alliance Global Partners started coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target on the stock.

Finance of America Companies Price Performance

Shares of FOA opened at $20.37 on Friday. The business’s 50-day moving average is $23.29 and its two-hundred day moving average is $20.95. The company has a market capitalization of $352.60 million, a P/E ratio of -6.77 and a beta of 1.65. Finance of America Companies has a fifty-two week low of $15.77 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02.

Finance of America Companies (NYSE:FOA) last issued its 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 company had revenue of $62.48 million during the quarter, compared to analysts’ expectations of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. Research analysts predict that Finance of America Companies will post 4.16 earnings per share for the current year.

Insider Buying and Selling at Finance of America Companies

In related news, CIO Jeremy Prahm sold 8,860 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the sale, the executive 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 22,360 shares of company stock worth $483,709. Corporate insiders own 35.37% of the company’s stock.

Institutional Trading of Finance of America Companies

Several large investors have recently made changes to their positions in FOA. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Finance of America Companies by 183.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after purchasing an additional 822 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Finance of America Companies in the 3rd quarter valued at about $29,000. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 2,050 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Finance of America Companies in the 2nd quarter valued at approximately $57,000. 97.20% of the stock is currently 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.