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

Investment analysts at Alliance Global Partners began coverage on shares of Finance of America Companies (NYSE:FOA) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Alliance Global Partners’ target price would suggest a potential upside of 30.37% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. B. Riley Financial started coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They set a “buy” rating and a $22.50 price target for the company. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.33.

Finance of America Companies Price Performance

Shares of NYSE FOA opened at $23.01 on Wednesday. The company has a fifty day moving average price of $22.04 and a 200 day moving average price of $21.13. The firm has a market cap of $204.62 million, a PE ratio of 57.53 and a beta of 1.62. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57. 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 results on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.26. The firm had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%. Research analysts predict that Finance of America Companies will post 4.59 earnings per share for the current fiscal year.

Insider Transactions at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40. Following the sale, the executive directly owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,838 shares of company stock worth $431,968 over the last 90 days. Corporate insiders own 35.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FOA. Caitong International Asset Management Co. Ltd lifted its stake in 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 purchasing an additional 822 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Finance of America Companies during the third quarter worth about $29,000. JPMorgan Chase & Co. increased its position in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Finance of America Companies in the second quarter valued at approximately $57,000. Finally, Bank of America Corp DE raised its stake in Finance of America Companies by 3,503.1% in the fourth 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. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.