Keefe, Bruyette & Woods reiterated their market perform rating on shares of Federal Agricultural Mortgage (NYSE:AGM – Free Report) in a report published on Tuesday, Benzinga reports. The firm currently has a $215.00 price target on the credit services provider’s stock.
Federal Agricultural Mortgage Stock Performance
Shares of Federal Agricultural Mortgage stock opened at $176.24 on Tuesday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.70 and a beta of 1.03. Federal Agricultural Mortgage has a 52 week low of $140.44 and a 52 week high of $217.60. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $187.22 and its two-hundred day moving average is $186.03.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last announced its earnings results on Monday, August 5th. The credit services provider reported $3.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.46). The business had revenue of $406.23 million for the quarter, compared to analysts’ expectations of $91.77 million. Federal Agricultural Mortgage had a return on equity of 22.01% and a net margin of 13.79%. During the same quarter last year, the business posted $3.86 earnings per share. Research analysts forecast that Federal Agricultural Mortgage will post 16.67 EPS for the current fiscal year.
Federal Agricultural Mortgage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, June 14th. Federal Agricultural Mortgage’s dividend payout ratio is presently 34.15%.
Institutional Investors Weigh In On Federal Agricultural Mortgage
Several hedge funds have recently modified their holdings of AGM. Captrust Financial Advisors acquired a new stake in shares of Federal Agricultural Mortgage during the first quarter worth $24,137,000. International Assets Investment Management LLC acquired a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth $18,283,000. Boston Partners lifted its holdings in Federal Agricultural Mortgage by 8.1% in the first quarter. Boston Partners now owns 486,964 shares of the credit services provider’s stock valued at $95,435,000 after acquiring an additional 36,560 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Federal Agricultural Mortgage by 943.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider’s stock valued at $5,422,000 after acquiring an additional 25,638 shares during the period. Finally, AdvisorShares Investments LLC acquired a new stake in Federal Agricultural Mortgage in the fourth quarter valued at $3,414,000. 68.03% of the stock is owned by institutional investors and hedge funds.
About Federal Agricultural Mortgage
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company’s Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.
Further Reading
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