Finance of America Companies (NYSE:FOA) Cut to "Hold" at Wall Street Zen

Key Points

• Finance of America Companies (NYSE:FOA) was downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a cautious outlook on the stock.
• UBS Group maintained a "neutral" rating and raised the price target for FOA shares to $25.00, up from $22.50.
• Finance of America revealed a strong quarterly earnings report, exceeding expectations with earnings of $0.52 per share compared to estimates of $0.37.

Finance of America Companies (NYSE:FOA - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, UBS Group reaffirmed a "neutral" rating and issued a $25.00 price target (up previously from $22.50) on shares of Finance of America Companies in a research note on Tuesday, July 15th.

Finance of America Companies Stock Performance

Shares of FOA opened at $24.33 on Friday. The company has a debt-to-equity ratio of 47.08, a quick ratio of 2.74 and a current ratio of 2.74. Finance of America Companies has a twelve month low of $6.83 and a twelve month high of $32.40. The firm's 50 day moving average price is $22.62 and its two-hundred day moving average price is $22.64. The firm has a market cap of $269.08 million, a P/E ratio of 6.61 and a beta of 1.44.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.15. The company had revenue of $165.70 million during the quarter, compared to the consensus estimate of $79.56 million. On average, analysts forecast that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FOA. National Bank of Canada FI bought a new stake in shares of Finance of America Companies in the fourth quarter worth $52,000. Geode Capital Management LLC lifted its position in shares of Finance of America Companies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 79,123 shares of the company's stock worth $2,226,000 after purchasing an additional 2,207 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 worth $65,000 after purchasing an additional 2,242 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Finance of America Companies by 20.0% in the first quarter. Citizens Financial Group Inc. RI now owns 24,000 shares of the company's stock worth $510,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Finance of America Companies by 14.2% in the fourth quarter. Millennium Management LLC now owns 49,415 shares of the company's stock worth $1,390,000 after purchasing an additional 6,132 shares in the last quarter. Institutional investors own 97.20% of the company's stock.

Finance of America Companies Company Profile

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.

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