Fannie Mae (OTCMKTS:FNMA) Sees Unusually-High Trading Volume – Time to Buy?

Fannie Mae (OTCMKTS:FNMAGet Free Report) shares saw unusually-high trading volume on Thursday . Approximately 5,503,090 shares traded hands during mid-day trading, an increase of 49% from the previous session’s volume of 3,695,414 shares.The stock last traded at $9.30 and had previously closed at $10.17.

Key Fannie Mae News

Here are the key news stories impacting Fannie Mae this week:

Analyst Ratings Changes

FNMA has been the subject of a number of research reports. B. Riley upgraded shares of Fannie Mae to a “hold” rating in a research note on Wednesday, October 29th. Zacks Research raised shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wedbush initiated coverage on Fannie Mae in a report on Tuesday, November 25th. They set an “outperform” rating and a $11.50 price objective for the company. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fannie Mae has an average rating of “Hold” and a consensus target price of $12.88.

Read Our Latest Research Report on Fannie Mae

Fannie Mae Trading Down 12.3%

The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 5.27 and a beta of 1.78. The firm’s 50 day simple moving average is $10.54 and its two-hundred day simple moving average is $10.80.

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

Fannie Mae Company Profile

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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.

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