Finance Of America Companies (NYSE:FOA) Receives New $2.00 Price Target At Morgan Stanley
Finance Of America Companies (NYSE: FOA – Get a rating) saw its target price drop by Morgan Stanley stock research analysts from $2.50 to $2.00 in a research note released on Monday, Benzinga reports. The company currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 18.34% from the company’s previous close.
Separately, Credit Suisse Group cut its price target on Finance Of America companies to $5.00 in a Friday, July 22 research report.
Shares of US financial companies down 2.9%
NYSE:FOA shares opened at $1.69 on Monday. The company has a market capitalization of $105.87 million, a price-earnings ratio of -0.23 and a beta of 0.73. Finance Of America Companies has a 12-month low of $1.53 and a 12-month high of $5.99. The company has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.50. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt ratio of 12.45.
Finance Of America Companies (NYSE: FOA – Get a rating) last announced its results on Thursday, August 4. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.14 per ($0.26). Finance Of America Companies had a positive return on equity of 9.38% and a negative net margin of 33.91%. In the same quarter a year earlier, the company posted EPS of $0.30. Sell-side analysts expect Finance Of America Companies to post 0.2 EPS for the current year.
Institutional trading of US financial companies
Several hedge funds have recently changed their positions in FOA. Adage Capital Partners GP LLC acquired a new stake in Finance Of America Companies during Q4 for a value of approximately $4,476,000. State Street Corp increased its position in shares of Finance Of America Companies by 3.5% during the first quarter. State Street Corp now owns 487,062 shares of the company worth $1,481,000 after acquiring an additional 16,383 shares during the period. Renaissance Technologies LLC increased its stake in shares of Finance Of America Companies by 307.5% in the first quarter. Renaissance Technologies LLC now owns 377,195 shares of the company valued at $1,147,000 after acquiring an additional 284,622 shares last quarter. Northern Trust Corp increased its stake in Finance Of America Companies by 80.8% in the second quarter. Northern Trust Corp now owns 288,310 shares of the company valued at $453,000 after purchasing an additional 128,857 shares during the period. Finally, Invesco Ltd. increased its stake in Finance Of America Companies by 10.0% in the 1st quarter. Invesco Ltd. now owns 215,121 shares of the company worth $654,000 after purchasing an additional 19,600 shares last quarter.
About Finance Of America Companies
Finance of America Companies Inc operates a consumer lending platform in the United States. The Company operates through the segments: Mortgage Issuance, Reverse Issuance, Commercial Issuance, Lender Services and Portfolio Management. It provides residential mortgage loans to government-sponsored entities; government-backed agricultural loan solutions for farmers; product development, loan securitization, loan sales, risk management, asset management and monitoring services to companies and third party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and business brokerage, trade execution services, third party review or due diligence services of mortgages, and capital valuation and management services for residential mortgages, student loans and commercial loans for industry clients.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Finance Of America Companies, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes over…and Finance Of America Companies didn’t make the list.
While Finance Of America Companies currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here