Finance of America Companies (NYSE:FOA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Finance of America Companies (NYSE: FOA) from “hold” to “sell”, adding to a mixed analyst picture for the stock.
• The company recently reported better-than-expected quarterly results, with EPS of $1.10 versus the $0.84 estimate and revenue of $120.14 million topping forecasts.
• FOA shares were up 2.2% in Friday trading, closing around $22.92; the stock still carries a Hold consensus rating and a $27.33 average target price.

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

A number of other brokerages have also recently commented on FOA. Weiss Ratings upgraded shares of Finance of America Companies from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Zacks Research upgraded shares of Finance of America Companies to a "hold" rating in a research report on Monday, April 6th. Alliance Global Partners assumed coverage on shares of Finance of America Companies in a research note on Wednesday. They set a "buy" rating and a $30.00 price objective for the company. Finally, B. Riley Financial initiated coverage on shares of Finance of America Companies in a report on Thursday, April 2nd. They issued a "buy" rating and a $22.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.33.

Finance of America Companies Stock Up 2.2%

Shares of FOA opened at $22.92 on Friday. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. Finance of America Companies has a one year low of $15.77 and a one year high of $29.79. The stock has a market capitalization of $203.72 million, a price-to-earnings ratio of 57.29 and a beta of 1.62. The stock has a 50 day moving average price of $22.22 and a 200 day moving average price of $21.14.

Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.84 by $0.26. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The firm had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. Equities research analysts forecast that Finance of America Companies will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Finance of America Companies

In other news, CIO Jeremy Prahm sold 8,860 shares of Finance of America Companies stock in a transaction that occurred 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 owned 203,856 shares of the company's stock, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,838 shares of company stock worth $431,968. 35.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Finance of America Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Finance of America Companies by 183.9% in the third 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. purchased a new position in shares of Finance of America Companies during the 3rd quarter worth $29,000. JPMorgan Chase & Co. grew its holdings in shares of Finance of America Companies by 4,270.8% during the 2nd 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 period. Bank of America Corp DE increased its position in shares of 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 worth $65,000 after purchasing an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Finance of America Companies during the 2nd quarter worth about $57,000. Institutional investors and hedge funds 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.

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