Fannie Mae (OTC:FNMA) Cut to Market Perform at Keefe, Bruyette & Woods

Fannie Mae (OTC:FNMA) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They currently have a $3.00 target price on the stock, up from their prior target price of $2.00. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 5.06% from the company’s previous close.

Fannie Mae Price Performance

FNMA stock opened at $3.16 on Wednesday. Fannie Mae has a twelve month low of $0.70 and a twelve month high of $3.65.

About Fannie Mae

Federal National Mortgage Association provides a source of financing for mortgages in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company 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.