Federal Agricultural Mortgage Co. (NYSE:AGM – Get Free Report) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 129,700 shares, an increase of 29.6% from the June 15th total of 100,100 shares. Based on an average trading volume of 47,500 shares, the short-interest ratio is currently 2.7 days. Approximately 1.4% of the shares of the company are short sold.
Institutional Investors Weigh In On Federal Agricultural Mortgage
Several large investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in Federal Agricultural Mortgage by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 77,709 shares of the credit services provider’s stock worth $11,990,000 after acquiring an additional 10,133 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth approximately $217,000. International Assets Investment Management LLC bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth approximately $18,283,000. Allspring Global Investments Holdings LLC grew its position in Federal Agricultural Mortgage by 943.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider’s stock worth $5,422,000 after acquiring an additional 25,638 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth approximately $283,000. 68.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $212.00 price target (down previously from $225.00) on shares of Federal Agricultural Mortgage in a report on Wednesday, May 8th.
View Our Latest Analysis on AGM
Federal Agricultural Mortgage Trading Up 2.2 %
AGM stock opened at $204.36 on Tuesday. Federal Agricultural Mortgage has a 1-year low of $140.44 and a 1-year high of $205.39. The firm has a market cap of $2.22 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.71 and a beta of 1.03. The business’s 50 day moving average is $178.59 and its 200-day moving average is $183.63. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.38.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.94 by $0.02. Federal Agricultural Mortgage had a return on equity of 22.01% and a net margin of 13.79%. The company had revenue of $403.63 million for the quarter, compared to analyst estimates of $92.22 million. During the same period in the prior year, the company posted $3.56 EPS. Equities analysts anticipate that Federal Agricultural Mortgage will post 16.67 earnings per share for the current fiscal year.
Federal Agricultural Mortgage Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.74%. Federal Agricultural Mortgage’s dividend payout ratio is currently 34.15%.
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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