B.Riley FBR Reaffirms Their Hold Rating on Federal National Mortgage Association (FNMA)

By Austin Angelo

B.Riley FBR analyst Randy Binner maintained a Hold rating on Federal National Mortgage Association (FNMAResearch Report) on January 17 and set a price target of $2.00. The company’s shares closed last Monday at $3.24.

According to TipRanks.com, Binner is a 5-star analyst with an average return of 12.4% and a 66.2% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, Health Insurance Innovations, and National General Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Federal National Mortgage Association with a $3.50 average price target.

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Based on Federal National Mortgage Association’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $30.29 billion and net profit of $3.96 billion. In comparison, last year the company earned revenue of $30.79 billion and had a net profit of $3.23 billion.

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Federal National Mortgage Association is a government-sponsored company, which engages in the provision of liquidity for purchases of homes and financing of multifamily rental housing and refinancing existing mortgages. It operates through the Single-Family and Multifamily segments.