Fannie Mae (OTCMKTS:FNMA) Cut to Neutral at Mizuho

Mizuho downgraded shares of Fannie Mae (OTCMKTS:FNMA) from an outperform rating to a neutral rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has $5.00 target price on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the stock. BTIG Research downgraded shares of Fannie Mae from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. B. Riley Financial reduced their price objective 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. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Fannie Mae in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating for the company in a report on Monday, September 28th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fannie Mae has a consensus rating of “Reduce” and an average price target of $8.70.

Fannie Mae Stock Performance

Shares of FNMA opened at $3.15 on Monday. The firm has a market cap of $3.65 billion, a PE ratio of 78.77 and a beta of 1.68. The firm’s 50 day moving average price is $5.34 and its 200 day moving average price is $6.32. Fannie Mae has a twelve month low of $3.14 and a twelve month high of $12.87.

Fannie Mae (OTCMKTS:FNMA) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $7.32 billion. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. On average, sell-side analysts anticipate that Fannie Mae will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. acquired a new stake in Fannie Mae (OTCMKTS:FNMA) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 0.02% of the stock is currently 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 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.