Fannie Mae (OTC:FNMA) Downgraded to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Fannie Mae (OTC:FNMA) from an outperform rating to a market perform rating in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $3.00 price target on the stock, up from their previous price target of $2.00.

Fannie Mae Stock Performance

Fannie Mae stock opened at $3.21 on Wednesday. Fannie Mae has a 52-week low of $0.70 and a 52-week 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.