Finance of America Companies (NYSE:FOA) Earns Buy Rating from Analysts at Alliance Global Partners

Key Points

• Alliance Global Partners initiated coverage on Finance of America Companies with a Buy rating and a $30 price target, implying about 30.37% upside from the previous close.
• The stock has seen mixed analyst views overall, with MarketBeat showing an average rating of Hold and a consensus target price of $27.33.
• FOA recently beat quarterly expectations, reporting $1.10 EPS versus $0.84 expected and revenue of $120.14 million versus $115.31 million forecast.

Equities researchers at Alliance Global Partners began coverage on shares of Finance of America Companies (NYSE:FOA - Get Free Report) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $30.00 price target on the stock. Alliance Global Partners' target price points to a potential upside of 30.37% from the company's previous close.

FOA has been the subject of a number of other research reports. B. Riley Financial assumed coverage on shares of Finance of America Companies in a report on Thursday, April 2nd. They set a "buy" rating and a $22.50 target price for the company. Zacks Research raised Finance of America Companies to a "hold" rating in a research note on Monday, April 6th. Weiss Ratings upgraded Finance of America Companies from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, June 12th. Finally, Wall Street Zen upgraded Finance of America Companies from a "sell" rating to a "hold" rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.33.

Finance of America Companies Stock Performance

Finance of America Companies stock opened at $23.01 on Wednesday. The company 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. The company's 50-day moving average is $22.04 and its two-hundred day moving average is $21.13.

Finance of America Companies (NYSE:FOA - Get Free Report) last issued its quarterly 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 company had revenue of $120.14 million during the quarter, compared to analysts' expectations of $115.31 million. Equities analysts anticipate that Finance of America Companies will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Finance of America Companies

In other news, CIO Jeremy Prahm sold 8,860 shares of the business's stock in a transaction 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 completion of the transaction, the executive owned 203,856 shares of the company's stock, valued at $4,177,009.44. The trade was a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 quarter. Company insiders own 35.37% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings 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 acquiring an additional 2,242 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Finance of America Companies by 66.2% during the 2nd quarter. Geode Capital Management LLC now owns 136,672 shares of the company's stock valued at $3,188,000 after purchasing an additional 54,429 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 valued at $49,000 after purchasing an additional 2,050 shares during the period. American Century Companies Inc. grew its position in shares of Finance of America Companies by 3.1% in 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 stake in Finance of America Companies during the 2nd quarter worth approximately $103,000. 97.20% of the stock is currently owned by institutional investors.

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.

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