Finance of America Companies (NYSE:FOA – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.
Several other brokerages have also recently issued reports on FOA. Wall Street Zen cut shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings lowered Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Alliance Global Partners started coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 target price on the stock. Finally, B. Riley Financial reiterated a “buy” rating and issued a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Finance of America Companies currently has an average rating of “Hold” and a consensus price target of $30.50.
Check Out Our Latest Research Report on Finance of America Companies
Finance of America Companies Stock Performance
Finance of America Companies (NYSE:FOA – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The business had revenue of $62.48 million for the quarter, compared to analysts’ expectations of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.51%. As a group, sell-side analysts anticipate that Finance of America Companies will post 4.16 EPS for the current year.
Insider Activity at Finance of America Companies
In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $21.73, for a total transaction of $130,380.00. Following the completion of the sale, the executive owned 179,856 shares of the company’s stock, valued at $3,908,270.88. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,360 shares of company stock worth $601,789. 35.37% of the stock is currently owned by insiders.
Institutional Trading of Finance of America Companies
Several hedge funds and other institutional investors have recently made changes to their positions in FOA. Bank of America Corp DE grew its holdings in 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 valued at $65,000 after purchasing an additional 2,242 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 worth $3,188,000 after buying an additional 54,429 shares during the period. JPMorgan Chase & Co. increased its stake in 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 buying an additional 2,050 shares during the period. American Century Companies Inc. increased its position in Finance of America Companies by 3.1% in the second quarter. American Century Companies Inc. now owns 88,554 shares of the company’s stock worth $2,065,000 after buying an additional 2,636 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Finance of America Companies in the second quarter valued at $103,000. Institutional investors and hedge funds own 97.20% of the company’s stock.
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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