Fannie Mae (OTCMKTS:FNMA – Get Free Report)’s share price traded up 13.3% on Thursday. The stock traded as high as $3.63 and last traded at $3.57. Approximately 7,533,509 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 5,186,478 shares. The stock had previously closed at $3.15.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on FNMA shares. B. Riley Financial decreased their target price on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Fannie Mae in a report on Thursday, July 30th. Mizuho set a $5.00 price target on shares of Fannie Mae and gave the company a “neutral” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating for the company in a research report on Monday, September 28th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $8.70.
Check Out Our Latest Research Report on Fannie Mae
Fannie Mae Stock Performance
The company has a fifty day simple moving average of $5.34 and a two-hundred day simple moving average of $6.32. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 89.27 and a beta of 1.68.
Fannie Mae (OTCMKTS:FNMA – Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.32 billion. As a group, equities analysts anticipate that Fannie Mae will post 2.63 earnings per share for the current year.
Institutional Investors Weigh In On Fannie Mae
An institutional investor recently bought a new position in Fannie Mae stock. Ratan Capital Management LP acquired a new position in shares of Fannie Mae (OTCMKTS:FNMA – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 79,000 shares of the financial services provider’s stock, valued at approximately $514,000. Hedge funds and other institutional investors own 0.02% of the company’s stock.
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 eligible residential mortgage loans from approved lenders and providing liquidity that helps banks and other mortgage originators continue making loans to homebuyers and homeowners.
Fannie Mae primarily supports single-family and multifamily housing. It finances and securitizes qualifying mortgage loans into mortgage-backed securities and generally guarantees the timely payment of principal and interest to investors in those securities.
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