FirstRand (OTCMKTS:FANDF) Shares Down 2.7% – Here’s Why

FirstRand Limited (OTCMKTS:FANDF)’s share price fell 2.7% on Tuesday . The stock traded as low as $5.22 and last traded at $5.22. 3,737 shares were traded during mid-day trading, a decline of 13% from the average session volume of 4,317 shares. The stock had previously closed at $5.3650.

Wall Street Analyst Weigh In

Several research firms recently commented on FANDF. The Goldman Sachs Group began coverage on shares of FirstRand in a research report on Thursday, November 13th. They issued a “buy” rating on the stock. Investec upgraded FirstRand from a “hold” rating to a “buy” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, FirstRand currently has an average rating of “Buy”.

FirstRand Stock Down 2.7%

The stock’s 50-day moving average price is $4.83 and its 200 day moving average price is $4.48.

About FirstRand

FirstRand Limited is a South African financial services group headquartered in Johannesburg. Established in 1998 through the consolidation of First National Bank of South Africa and Rand Merchant Bank, the company has grown into one of the continent’s leading providers of banking and financial products. FirstRand operates a diversified financial-services platform that spans retail, commercial and corporate banking.

The group’s main operating divisions include First National Bank (FNB), which offers personal and small-business banking; Rand Merchant Bank (RMB), specializing in corporate and investment banking; WesBank, a provider of vehicle and asset finance; and Ashburton Investments, which delivers asset management and tailored investment solutions.