Finance of America Companies (NYSE:FOA) Given Buy Rating at B. Riley Financial

Finance of America Companies (NYSE:FOA)‘s stock had its “buy” rating reissued by stock analysts at B. Riley Financial in a report released on Wednesday,Benzinga reports. They presently have a $32.00 price objective on the stock, up from their previous price objective of $25.00. B. Riley Financial’s target price indicates a potential upside of 38.06% from the stock’s current price.

Several other equities research analysts have also weighed in on FOA. Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 target price on the stock. Finally, Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Trading Down 2.4%

FOA stock traded down $0.58 during mid-day trading on Wednesday, reaching $23.18. The company’s stock had a trading volume of 15,743 shares, compared to its average volume of 76,852. The company has a market cap of $206.05 million, a price-to-earnings ratio of 57.39 and a beta of 1.65. Finance of America Companies has a 12 month low of $15.77 and a 12 month high of $29.79. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57. The business’s 50 day moving average price is $22.83 and its 200 day moving average price is $21.14.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The firm had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. On average, equities research analysts predict that Finance of America Companies will post 4.44 EPS for the current year.

Insiders Place Their Bets

In other news, CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction that occurred 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 transaction, the executive owned 203,856 shares in the company, valued at approximately $4,177,009.44. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,838 shares of company stock worth $431,968. 35.37% of the stock is currently owned by company insiders.

Institutional Trading of Finance of America Companies

A number of institutional investors have recently made changes to their positions in FOA. Bank of America Corp DE raised its stake 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after acquiring an additional 54,429 shares during the period. JPMorgan Chase & Co. boosted its position in 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 worth $49,000 after purchasing an additional 2,050 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Finance of America Companies by 3.1% during 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 during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Finance of America Companies in the 2nd quarter worth approximately $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.