Finance of America Companies (NYSE:FOA) Price Target Raised to $30.00

Finance of America Companies (NYSE:FOA) had its price target boosted by Raymond James from $27.00 to $30.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Finance of America Companies Price Performance

Shares of FOA stock opened at $21.86 on Tuesday. The firm has a market cap of $234.15 million, a price-to-earnings ratio of 1.87 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. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 40.07. The stock has a 50-day moving average price of $23.80 and a 200 day moving average price of $20.12.

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 the consensus estimate of $0.45 by ($0.24). Finance of America Companies had a negative return on equity of 4.00% and a net margin of 18.89%. The business had revenue of ($105.62) million for the quarter, compared to analyst estimates of $80.61 million. Research analysts expect that Finance of America Companies will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp bought a new stake in shares of Finance of America Companies in the 4th quarter valued at about $318,000. Millennium Management LLC grew its holdings in Finance of America Companies by 14.2% during the fourth 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 period. Bank of America Corp DE increased its stake in Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after purchasing an additional 2,242 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in Finance of America Companies in the fourth quarter worth $4,850,000. Finally, Northern Trust Corp bought a new position in shares of Finance of America Companies during the fourth quarter worth $479,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

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.