Federal National Mortgage Association (OTCMKTS:FNMA) Cut to Underperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Federal National Mortgage Association (OTCMKTS:FNMA) from a market perform rating to an underperform rating in a research note published on Monday morning, MarketBeat reports. Keefe, Bruyette & Woods currently has $4.00 target price on the financial services provider’s stock, up from their prior target price of $3.00.

Federal National Mortgage Association Price Performance

FNMA opened at $5.66 on Monday. Federal National Mortgage Association has a fifty-two week low of $1.02 and a fifty-two week high of $7.80. The firm has a 50 day simple moving average of $3.97 and a 200 day simple moving average of $2.33.

Federal National Mortgage Association (OTCMKTS:FNMA) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $38.14 billion for the quarter, compared to analyst estimates of $7.17 billion. Federal National Mortgage Association had a negative return on equity of 30.10% and a net margin of 11.22%.

Federal National Mortgage Association 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.