B. Riley Cuts Federal National Mortgage Association (OTCMKTS:FNMA) Price Target to $2.00

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Federal National Mortgage Association (OTCMKTS:FNMA) had its price target lowered by B. Riley from $3.00 to $2.00 in a report released on Friday, The Fly reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also issued reports on FNMA. Zacks Investment Research lowered shares of Federal National Mortgage Association from a buy rating to a hold rating in a research report on Saturday, November 2nd. Keefe, Bruyette & Woods raised shares of Federal National Mortgage Association from an underperform rating to a market perform rating in a research report on Tuesday, October 8th. Compass Point upgraded shares of Federal National Mortgage Association from a neutral rating to a buy rating and set a $7.75 price objective on the stock in a research note on Monday, September 9th. Finally, Odeon Capital Group raised shares of Federal National Mortgage Association to a hold rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $4.67.

OTCMKTS:FNMA opened at $2.97 on Friday. The stock has a market capitalization of $3.24 billion, a PE ratio of 5.21 and a beta of 2.13. Federal National Mortgage Association has a 1-year low of $0.98 and a 1-year high of $4.23. The firm has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $2.98.

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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