Finance of America Companies (NYSE:FOA) Announces Earnings Results, Beats Expectations By $0.66 EPS

Finance of America Companies (NYSE:FOA) posted its quarterly earnings data on Tuesday. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.66, Zacks reports.

Finance of America Companies Price Performance

Shares of Finance of America Companies stock traded down $0.22 during trading on Tuesday, reaching $21.99. 93,110 shares of the stock traded hands, compared to its average volume of 114,283. The company has a market capitalization of $243.65 million, a price-to-earnings ratio of 3.60 and a beta of 1.52. The business has a fifty day simple moving average of $23.77 and a two-hundred day simple moving average of $23.18. The company has a debt-to-equity ratio of 39.38, a current ratio of 2.69 and a quick ratio of 2.69. Finance of America Companies has a 52-week low of $12.90 and a 52-week high of $32.40.

Insider Buying and Selling at Finance of America Companies

In other news, CAO Tai A. Thornock sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $25.87, for a total transaction of $28,457.00. Following the completion of the transaction, the chief accounting officer owned 15,050 shares in the company, valued at $389,343.50. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 25.00% of the stock is currently owned by insiders.

Institutional Trading of Finance of America Companies

A number of hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in 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 buying an additional 2,242 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Finance of America Companies by 66.2% in 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. raised its stake 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 acquiring an additional 2,050 shares during the period. American Century Companies Inc. raised its stake 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 acquiring an additional 2,636 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Finance of America Companies during the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on FOA shares. Wall Street Zen lowered Finance of America Companies from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Finance of America Companies in a research note on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating and issued a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Finance of America Companies has an average rating of “Hold” and a consensus price target of $27.50.

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.