Finance Of America Companies Inc. (NYSE:FOA – Get Rating) shot up 2.8% during trading on Wednesday . The company traded as high as $1.82 and last traded at $1.81. 48,367 shares traded hands during trading, a decline of 37% from the average session volume of 76,600 shares. The stock previously closed at $1.76.
Analysts Set New Price Targets
A number of research firms have commented on FOA. Raymond James downgraded shares of Finance Of America Companies from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $4.50 to $2.50 in a research note on Friday, November 11th. The Goldman Sachs Group reduced their price target on shares of Finance Of America Companies from $1.75 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday, October 4th. Morgan Stanley reduced their price target on shares of Finance Of America Companies from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Friday, December 16th. Finally, Credit Suisse Group reduced their price target on shares of Finance Of America Companies from $4.00 to $3.50 and set an “outperform” rating on the stock in a research report on Monday, November 21st.
Finance Of America Companies Stock Performance
The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 18.75. The stock’s 50-day moving average price is $1.43 and its 200-day moving average price is $1.52. The company has a market capitalization of $113.96 million, a P/E ratio of -0.20 and a beta of 0.57.
Finance Of America Companies (NYSE:FOA – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Finance Of America Companies has a positive return on equity of 3.94% and a negative net margin of 61.34%. The firm had revenue of $71.10 million during the quarter, compared to analyst estimates of $224.45 million. As a group, equity analysts expect that Finance Of America Companies Inc. will post -0.2 EPS for the current year.
Institutional Trading of Finance Of America Companies
Large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Finance Of America Companies in the 2nd quarter worth about $30,000. SG Americas Securities LLC acquired a new position in Finance Of America Companies during the 2nd quarter valued at about $27,000. Virtu Financial LLC acquired a new position in Finance Of America Companies during the 3rd quarter valued at about $26,000. American International Group Inc. increased its stake in Finance Of America Companies by 101.1% during the 2nd quarter. American International Group Inc. now owns 18,171 shares of the company’s stock valued at $29,000 after buying an additional 9,137 shares during the period. Finally, Capstone Financial Advisors Inc. increased its stake in Finance Of America Companies by 66.7% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 25,000 shares of the company’s stock valued at $39,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 53.11% of the company’s stock.
Finance Of America Companies Company Profile
Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.
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