Fannie Mae (OTCMKTS:FNMA) Stock Price Up 6.1% – What’s Next?

Shares of Fannie Mae (OTCMKTS:FNMA) traded up 6.1% during trading on Friday. The company traded as high as $4.30 and last traded at $4.2860. 390,263 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 5,099,293 shares. The stock had previously closed at $4.04.

Analysts Set New Price Targets

Several equities research analysts recently commented on FNMA shares. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Fannie Mae in a report on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price target 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. B. Riley Financial reduced 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 note on Thursday, July 30th. Finally, BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fannie Mae has a consensus rating of “Hold” and a consensus price target of $9.70.

Fannie Mae Trading Up 2.5%

The company has a market cap of $4.79 billion, a price-to-earnings ratio of 103.53 and a beta of 1.68. The business has a 50-day moving average price of $5.51 and a 200 day moving average price of $6.37.

Fannie Mae (OTCMKTS:FNMA) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.32 billion. On average, analysts anticipate that Fannie Mae will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On Fannie Mae

A hedge fund recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. acquired a new position in shares of Fannie Mae (OTCMKTS:FNMA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 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.