Finance of America Companies (NYSE:FOA) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Finance of America Companies (NYSE:FOA) from a hold rating to a sell rating in a research note released on Saturday.

Several other analysts also recently issued reports on the company. B. Riley Financial assumed coverage on 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. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Alliance Global Partners initiated coverage on Finance of America Companies in a research report on Wednesday. They set a “buy” rating and a $30.00 target price for the company. Finally, Zacks Research upgraded Finance of America Companies to a “hold” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.33.

Finance of America Companies Stock Up 2.2%

FOA stock opened at $22.92 on Friday. The firm has a market cap of $203.72 million, a PE ratio of 57.29 and a beta of 1.62. Finance of America Companies has a 1 year low of $15.77 and a 1 year high of $29.79. The company has a fifty day simple moving average of $22.22 and a 200 day simple moving average of $21.14. 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 (NYSE:FOA) last posted its earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.84 by $0.26. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The firm had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. Sell-side analysts anticipate that Finance of America Companies will post 4.59 EPS 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 dated Monday, June 15th. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40. Following the completion of the sale, the executive directly owned 203,856 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 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 in the last three months. 35.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Finance of America Companies

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $28,000 after purchasing an additional 822 shares during the period. Russell Investments Group Ltd. bought a new position in Finance of America Companies in the 3rd quarter worth approximately $29,000. JPMorgan Chase & Co. increased its position 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 worth $49,000 after buying an additional 2,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Finance of America Companies in the 2nd quarter worth approximately $57,000. Finally, Bank of America Corp DE lifted its holdings in shares of Finance of America Companies by 3,503.1% during the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock worth $65,000 after buying an additional 2,242 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

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.