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

Shares of FirstRand Limited (OTCMKTS:FANDF) fell 2.7% during mid-day trading on Tuesday . The stock traded as low as $5.22 and last traded at $5.22. 3,737 shares were traded during 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 equities analysts have recently commented on FANDF shares. Investec raised FirstRand from a “hold” rating to a “buy” rating in a research report on Friday, September 19th. The Goldman Sachs Group began coverage on FirstRand in a research note on Thursday, November 13th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, FirstRand has an average rating of “Buy”.

FirstRand Price Performance

The stock has a 50 day moving average of $4.84 and a 200 day moving average of $4.49.

FirstRand Company Profile

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.