Fannie Mae (OTCMKTS:FNMA) Trading Up 7.2% – Here’s What Happened

Fannie Mae (OTCMKTS:FNMA)’s stock price traded up 7.2% during mid-day trading on Tuesday . The company traded as high as $12.39 and last traded at $12.2580. 3,809,352 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 9,795,380 shares. The stock had previously closed at $11.44.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Fannie Mae in a report on Thursday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Research downgraded shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Keefe, Bruyette & Woods raised their target price on shares of Fannie Mae from $4.00 to $10.00 and gave the company an “underperform” rating in a research note on Thursday, September 18th. B. Riley upgraded Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. Finally, Wedbush initiated coverage on Fannie Mae in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 price objective on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.88.

Fannie Mae Trading Up 5.3%

The business has a 50 day simple moving average of $10.93 and a two-hundred day simple moving average of $10.60. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 6.10 and a beta of 1.71.

Fannie Mae (OTCMKTS:FNMA) last released its earnings results on Wednesday, October 29th. The financial services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.72 billion. Fannie Mae had a net margin of 2.61% and a negative return on equity of 37.47%.

About Fannie Mae

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.