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 report released on Monday morning, MarketBeat reports. The firm currently has $4.00 price target on the financial services provider’s stock, up from their previous price target of $3.00.

Federal National Mortgage Association Stock Performance

Shares of FNMA opened at $5.66 on Monday. The company’s fifty day simple moving average is $3.97 and its 200 day simple moving average is $2.33. Federal National Mortgage Association has a 1-year low of $1.02 and a 1-year high of $7.80.

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

About Federal National Mortgage Association

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.