Federal National Mortgage Association (OTCMKTS:FNMA) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Federal National Mortgage Association (OTCMKTS:FNMA) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $2.50 target price on the financial services provider’s stock.

According to Zacks, “Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation’s largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation’s homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) “

Other analysts also recently issued research reports about the company. B. Riley began coverage on Federal National Mortgage Association in a research report on Friday, April 5th. They set a neutral rating and a $2.50 price target for the company. Compass Point began coverage on Federal National Mortgage Association in a research report on Thursday, June 20th. They set a neutral rating for the company.

Shares of FNMA opened at $2.10 on Friday. The company has a market cap of $2.43 billion, a P/E ratio of 3.68 and a beta of 2.29. The firm’s 50-day simple moving average is $2.63. Federal National Mortgage Association has a 12-month low of $0.98 and a 12-month high of $3.27.

About Federal National Mortgage Association

Federal National Mortgage Association provides a source of liquidity to the mortgage market and supports the availability and affordability of housing in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company operates in two segments, Single-Family and Multifamily.

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