Finance of America Companies (NYSE:FOA) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Finance of America Companies (NYSE:FOA) announced its quarterly earnings results on Tuesday. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.24), Zacks reports. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. The business had revenue of ($105.62) million during the quarter, compared to the consensus estimate of $80.61 million.

Finance of America Companies Price Performance

FOA opened at $21.14 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07. The business’s fifty day simple moving average is $25.40 and its 200-day simple moving average is $19.12. The company has a market capitalization of $209.82 million, a price-to-earnings ratio of 1.81 and a beta of 1.18. Finance of America Companies has a 12-month low of $4.10 and a 12-month high of $32.40.

Insider Buying and Selling

In other Finance of America Companies news, Director Norma Corio acquired 4,300 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $25.61 per share, with a total value of $110,123.00. Following the completion of the acquisition, the director now directly owns 16,580 shares in the company, valued at $424,613.80. This represents a 35.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.60% of the stock is owned by insiders.

Institutional Trading of Finance of America Companies

An institutional investor recently raised its position in Finance of America Companies stock. Bank of America Corp DE lifted its stake in Finance of America Companies Inc. (NYSE:FOA) by 3,503.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,306 shares of the company’s stock after acquiring an additional 2,242 shares during the period. Bank of America Corp DE’s holdings in Finance of America Companies were worth $65,000 at the end of the most recent quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group cut shares of Finance of America Companies from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $24.00 in a research report on Wednesday, November 20th.

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.