Raymond James Forecasts Strong Price Appreciation for Finance of America Companies (NYSE:FOA) Stock

Finance of America Companies (NYSE:FOA) had its price objective hoisted by equities research analysts at Raymond James from $27.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 40.58% from the stock’s current price.

Finance of America Companies Stock Performance

FOA opened at $21.34 on Tuesday. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80. The business’s 50-day simple moving average is $24.10 and its 200 day simple moving average is $20.01. The firm has a market capitalization of $211.82 million, a PE ratio of 1.82 and a beta of 1.18. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $32.40.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, March 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.24). Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. The firm had revenue of ($105.62) million during the quarter, compared to the consensus estimate of $80.61 million. As a group, sell-side analysts expect that Finance of America Companies will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Finance of America Companies

Several hedge funds have recently bought and sold shares of FOA. National Bank of Canada FI bought a new stake in Finance of America Companies in the fourth quarter valued at approximately $52,000. Geode Capital Management LLC increased its holdings in shares of Finance of America Companies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 79,123 shares of the company’s stock worth $2,226,000 after acquiring an additional 2,207 shares during the last quarter. Bank of America Corp DE raised its stake in Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares during the period. Millennium Management LLC lifted its holdings in Finance of America Companies by 14.2% during the 4th quarter. Millennium Management LLC now owns 49,415 shares of the company’s stock valued at $1,390,000 after purchasing an additional 6,132 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Finance of America Companies during the fourth quarter worth $204,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.