Fannie Mae (OTCMKTS:FNMA) Sees Strong Trading Volume – Time to Buy?

Fannie Mae (OTCMKTS:FNMA) shares saw unusually-strong trading volume on Thursday . Approximately 8,959,941 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 5,793,611 shares.The stock last traded at $4.26 and had previously closed at $4.63.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FNMA. BTIG Research initiated coverage on Fannie Mae in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price target for the company. B. Riley Financial restated a “neutral” rating on shares of Fannie Mae in a research report on Thursday, February 12th. Zacks Research cut shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Finally, Wedbush began coverage on shares of Fannie Mae in a report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Fannie Mae currently has a consensus rating of “Hold” and an average target price of $14.30.

Fannie Mae Stock Performance

The firm has a fifty day moving average price of $7.93 and a 200 day moving average price of $10.21. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 2.19 and a beta of 1.78.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.33 billion. Fannie Mae had a negative return on equity of 49.21% and a net margin of 2.22%.

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.