Keefe, Bruyette & Woods Cuts Fannie Mae (OTCMKTS:FNMA) Price Target to $3.50

Fannie Mae (OTCMKTS:FNMA) had its price objective lowered by Keefe, Bruyette & Woods from $6.25 to $3.50 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

Several other analysts also recently commented on FNMA. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Fannie Mae in a report on Thursday, July 30th. BTIG Research cut shares of Fannie Mae from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. 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 research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.70.

Fannie Mae Stock Up 1.0%

Fannie Mae stock opened at $4.21 on Monday. Fannie Mae has a 52 week low of $3.60 and a 52 week high of $12.98. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 105.28 and a beta of 1.70. The stock has a 50-day moving average price of $5.74 and a 200 day moving average price of $6.42.

Fannie Mae (OTCMKTS:FNMA) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.32 billion. Research analysts anticipate that Fannie Mae will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Fannie Mae

An institutional investor recently bought a new stake in Fannie Mae stock. Ratan Capital Management LP acquired a new position in shares of Fannie Mae (OTCMKTS:FNMA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

About Fannie Mae

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.