Fannie Mae’s (FNMA) Hold Rating Reiterated at Wedbush

Fannie Mae (OTCMKTS:FNMA)‘s stock had its “hold” rating reissued by investment analysts at Wedbush in a report issued on Thursday, MarketBeat reports. They presently have a $3.50 price objective on the financial services provider’s stock. Wedbush‘s price target suggests a potential downside of 12.28% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FNMA. Keefe, Bruyette & Woods dropped their price target on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating on the stock in a research note on Monday, September 28th. Mizuho set a $5.00 price objective on shares of Fannie Mae and gave the company a “neutral” rating in a research note on Monday, October 12th. Finally, B. Riley Financial decreased their target price on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fannie Mae currently has an average rating of “Reduce” and an average target price of $7.80.

Fannie Mae Trading Down 5.2%

OTCMKTS:FNMA traded down $0.22 during trading hours on Thursday, reaching $3.99. 7,519,568 shares of the company traded hands, compared to its average volume of 6,970,922. The business’s 50-day moving average price is $5.01 and its two-hundred day moving average price is $6.18. Fannie Mae has a 1 year low of $2.96 and a 1 year high of $12.39. The stock has a market capitalization of $4.62 billion, a P/E ratio of 99.77 and a beta of 1.68.

Fannie Mae (OTCMKTS:FNMA) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%. As a group, equities analysts anticipate that Fannie Mae will post 2.63 EPS for the current year.

Institutional Trading of Fannie Mae

A hedge fund recently bought a new position in Fannie Mae stock. Hennessy Advisors Inc. acquired a new stake in shares of Fannie Mae (OTCMKTS:FNMA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 0.02% of the stock is currently owned by institutional investors.

Fannie Mae Company Profile

Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports the U.S. housing finance system. It operates in the secondary mortgage market, purchasing qualifying residential mortgage loans from approved lenders and helping provide liquidity so those lenders can continue offering mortgage financing to homebuyers and homeowners.

Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees certain mortgage-backed securities, helping connect mortgage lenders with institutional investors.