Finance of America Companies (NYSE:FOA) Announces Earnings Results

Finance of America Companies (NYSE:FOA) released its quarterly earnings results on Tuesday. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.24), Zacks reports. The business had revenue of ($105.62) million for the quarter, compared to the consensus estimate of $80.61 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%.

Finance of America Companies Price Performance

NYSE FOA opened at $21.14 on Wednesday. The stock has a market capitalization of $209.82 million, a P/E ratio of 1.81 and a beta of 1.18. Finance of America Companies has a 1 year low of $4.10 and a 1 year high of $32.40. The business’s fifty day moving average is $25.40 and its two-hundred day moving average is $19.12. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80.

Insider Buying and Selling at Finance of America Companies

In other news, Director Norma Corio purchased 4,300 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $25.61 per share, for a total transaction of $110,123.00. Following the completion of the acquisition, the director now directly owns 16,580 shares of the company’s stock, valued at approximately $424,613.80. The trade was a 35.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

An institutional investor recently raised its position in Finance of America Companies stock. Bank of America Corp DE grew its stake in shares of Finance of America Companies Inc. (NYSE:FOA) by 3,503.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,306 shares of the company’s stock after buying an additional 2,242 shares during the period. Bank of America Corp DE’s holdings in Finance of America Companies were worth $65,000 as of its most recent filing with the SEC. 97.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, UBS Group cut Finance of America Companies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $24.00 in a report on Wednesday, November 20th.

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.