Fannie Mae (OTCMKTS:FNMA) Trading 4.2% Higher – Here’s What Happened

Shares of Fannie Mae (OTCMKTS:FNMA) rose 4.2% on Friday . The stock traded as high as $8.70 and last traded at $8.70. Approximately 390,798 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 5,709,247 shares. The stock had previously closed at $8.35.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FNMA. Zacks Research raised Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wedbush assumed coverage on Fannie Mae in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 price target for the company. BTIG Research assumed coverage on shares of Fannie Mae in a research report on Monday. They set a “buy” rating and a $20.00 price objective on the stock. Finally, B. Riley upgraded Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.30.

Fannie Mae Price Performance

The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 4.61 and a beta of 1.78. The firm’s 50 day moving average price is $10.30 and its 200-day moving average price is $10.76.

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

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.