Fannie Mae (OTCMKTS:FNMA) Shares Down 4.2% - Here's What Happened

Key Points

• Fannie Mae shares fell 4.2% during trading, reaching a low of $11.34 and closing at $11.43, with a trading volume decline of 77% from the average.
• Analysts are divided on Fannie Mae, with one giving a Buy rating, two assigning a Hold rating, and one issuing a Sell rating, leading to an average rating of Hold and a consensus price target of $13.33.
• Recent analyst updates include Zacks raising its rating to Hold and Deutsche Bank initiating coverage with a Buy rating and a price objective of $20.00.

Fannie Mae (OTCMKTS:FNMA - Get Free Report) shares dropped 4.2% during trading on Friday . The stock traded as low as $11.34 and last traded at $11.43. Approximately 2,365,674 shares traded hands during trading, a decline of 77% from the average daily volume of 10,268,947 shares. The stock had previously closed at $11.93.

Wall Street Analyst Weigh In

FNMA has been the subject of several analyst reports. Zacks Research raised Fannie Mae to a "hold" rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods upped their price objective on Fannie Mae from $4.00 to $10.00 and gave the company an "underperform" rating in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Fannie Mae in a research note on Thursday, September 11th. They set a "buy" rating and a $20.00 price objective for the company. Finally, B. Riley initiated coverage on Fannie Mae in a research note on Friday, September 5th. They set a "neutral" rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.33.

Fannie Mae Stock Performance

The company has a 50-day simple moving average of $12.18 and a 200-day simple moving average of $10.50.

Fannie Mae Company Profile

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.

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