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

Wedbush reaffirmed their hold rating on shares of Fannie Mae (OTCMKTS:FNMA) in a report published on Thursday, MarketBeat.com reports. They currently have a $3.50 target price on the financial services provider’s stock.

A number of other research firms have also issued reports on FNMA. B. Riley Financial dropped their price target on Fannie Mae from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Mizuho set a $5.00 price target on Fannie Mae and gave the company a “neutral” rating in a report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fannie Mae from $6.25 to $3.50 and set an “underperform” rating on the stock 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $7.80.

Fannie Mae Trading Down 5.2%

Shares of OTCMKTS FNMA opened at $3.99 on Thursday. Fannie Mae has a 12-month low of $2.96 and a 12-month high of $12.39. The stock has a market cap of $4.62 billion, a PE ratio of 99.77 and a beta of 1.68. The company has a 50-day moving average of $5.01 and a 200 day moving average of $6.18.

Fannie Mae (OTCMKTS:FNMA) last released its quarterly earnings data 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 net margin of 4.59% and a negative return on equity of 76.66%. The company had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $7.32 billion. On average, sell-side analysts forecast that Fannie Mae will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Fannie Mae stock. Ratan Capital Management LP acquired a new position in Fannie Mae (OTCMKTS:FNMA) in the 2nd 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. 0.02% of the stock is owned by institutional investors and hedge funds.

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.