Finance of America Companies (NYSE:FOA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Finance of America Companies (NYSE:FOA) from a sell rating to a hold rating in a research note published on Monday morning.

A number of other equities research analysts have also recently issued reports on FOA. B. Riley Financial started coverage on Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Finance of America Companies in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Finance of America Companies Price Performance

Shares of NYSE:FOA opened at $18.47 on Monday. 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 stock’s fifty day simple moving average is $19.29 and its two-hundred day simple moving average is $21.72. Finance of America Companies has a 1-year low of $15.77 and a 1-year high of $29.58. The stock has a market cap of $157.89 million, a PE ratio of 9.47 and a beta of 1.70.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, March 10th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%.The company had revenue of $73.51 million for the quarter, compared to analysts’ expectations of $109.45 million. As a group, analysts forecast that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Finance of America Companies news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Finance of America Companies stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a document filed 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 Finance of America Companies stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. Insiders sold 3,205,362 shares of company stock worth $32,160,566 over the last quarter. 25.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FOA. Bank of America Corp DE grew its holdings 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 valued at $65,000 after buying an additional 2,242 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after purchasing an additional 54,429 shares in the last quarter. 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 purchasing an additional 2,050 shares in the last quarter. American Century Companies Inc. grew its holdings 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 purchasing an additional 2,636 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Finance of America Companies during the second quarter worth about $103,000. Hedge funds and other institutional investors 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.