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

Finance of America Companies (NYSE:FOA) announced its 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 company had revenue of ($105.62) million for the quarter, compared to analyst estimates of $80.61 million.

Finance of America Companies Stock Performance

NYSE:FOA opened at $21.75 on Thursday. The company has a debt-to-equity ratio of 40.07, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market cap of $215.84 million, a PE ratio of 1.86 and a beta of 1.18. The firm has a 50 day simple moving average of $25.27 and a 200-day simple moving average of $19.14. Finance of America Companies has a 1-year low of $4.10 and a 1-year high of $32.40.

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 holdings in shares of Finance of America Companies Inc. (NYSE:FOA) by 3,503.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,306 shares of the company’s stock after purchasing an additional 2,242 shares during the quarter. Bank of America Corp DE’s holdings in Finance of America Companies were worth $65,000 as of its most recent SEC filing. Institutional investors own 97.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group lowered Finance of America Companies from a “buy” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $24.00 in a research note 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.