Raymond James Raises Finance of America Companies (NYSE:FOA) Price Target to $30.00

Finance of America Companies (NYSE:FOA) had its price objective lifted by research analysts at Raymond James from $27.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 36.91% from the stock’s previous close.

Finance of America Companies Stock Down 0.4 %

FOA opened at $21.91 on Tuesday. Finance of America Companies has a 12 month low of $4.10 and a 12 month high of $32.40. The stock has a market cap of $234.73 million, a P/E ratio of 1.87 and a beta of 1.18. The stock’s 50 day moving average price is $23.90 and its 200 day moving average price is $20.11. The company has a debt-to-equity ratio of 40.07, a current ratio of 2.80 and a quick ratio of 2.80.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.24). The business had revenue of ($105.62) million for the quarter, compared to analyst estimates of $80.61 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. As a group, research analysts predict that Finance of America Companies will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FOA. National Bank of Canada FI acquired a new position in Finance of America Companies during the fourth quarter worth about $52,000. Bank of America Corp DE grew its stake in shares of 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 worth $65,000 after purchasing an additional 2,242 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Finance of America Companies in the 4th quarter worth approximately $204,000. XTX Topco Ltd acquired a new stake in Finance of America Companies during the fourth quarter valued at approximately $213,000. Finally, Marshall Wace LLP acquired a new stake in Finance of America Companies during the fourth quarter valued at approximately $277,000. 97.20% of the stock is currently owned by institutional investors.

About Finance of America Companies

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.