Fannie Mae (OTCMKTS:FNMA) Share Price Passes Above 50 Day Moving Average – What’s Next?

Fannie Mae (OTCMKTS:FNMA)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.62 and traded as high as $10.71. Fannie Mae shares last traded at $10.69, with a volume of 2,214,650 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on FNMA. B. Riley raised shares of Fannie Mae to a “hold” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on Fannie Mae in a report on Thursday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on Fannie Mae from $4.00 to $10.00 and gave the company an “underperform” rating in a research report on Thursday, September 18th. Finally, Wedbush began coverage on Fannie Mae in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 target price for the company. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Fannie Mae currently has a consensus rating of “Hold” and an average target price of $12.88.

Fannie Mae Trading Down 0.1%

The stock has a market capitalization of $12.38 billion, a PE ratio of 5.82 and a beta of 1.78. The stock has a 50 day moving average price of $10.62 and a 200-day moving average price of $10.78.

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

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.