Fannie Mae (OTCMKTS:FNMA) Sees Strong Trading Volume – Here’s What Happened

Fannie Mae (OTCMKTS:FNMA) shares saw an uptick in trading volume on Thursday . 8,959,941 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 5,793,611 shares.The stock last traded at $4.26 and had previously closed at $4.63.

Analysts Set New Price Targets

Several brokerages have weighed in on FNMA. B. Riley Financial restated a “neutral” rating on shares of Fannie Mae in a research report on Thursday, February 12th. Wedbush started coverage on shares of Fannie Mae in a research report on Tuesday, November 25th. They set an “outperform” rating and a $11.50 price target for the company. BTIG Research started coverage on Fannie Mae in a research note on Monday, January 26th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Zacks Research cut Fannie Mae from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fannie Mae currently has a consensus rating of “Hold” and a consensus target price of $14.30.

Fannie Mae Stock Performance

The firm has a market capitalization of $4.92 billion, a PE ratio of 2.19 and a beta of 1.78. The firm’s 50-day moving average is $7.93 and its 200 day moving average is $10.21.

Fannie Mae (OTCMKTS:FNMA) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.33 billion. Fannie Mae had a net margin of 2.22% and a negative return on equity of 49.21%.

Fannie Mae Company Profile

The Federal National Mortgage Association, commonly known as Fannie Mae (OTCMKTS:FNMA), is a government-sponsored enterprise established by Congress in 1938 as part of the New Deal to support the U.S. housing market. Headquartered in Washington, DC, Fannie Mae’s mission is to promote liquidity, stability and affordability in the mortgage market. The company operates by purchasing residential mortgage loans from financial institutions, pooling them into mortgage-backed securities (MBS), and providing guarantees to investors against borrower default.

In its core business, Fannie Mae works with mortgage lenders across the United States—including banks, credit unions and mortgage finance companies—to ensure a steady flow of capital for homebuyers and homeowners seeking refinancing.