Huntington Bancshares Inc. MD bought a new position in Federal Agricultural Mortgage Corporation (NYSE:AGM – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,275 shares of the credit services provider’s stock, valued at approximately $2,340,508,000. Federal Agricultural Mortgage comprises about 22.9% of Huntington Bancshares Inc. MD’s portfolio, making the stock its 2nd largest position. Huntington Bancshares Inc. MD owned 0.15% of Federal Agricultural Mortgage as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Byrne Asset Management LLC increased its holdings in shares of Federal Agricultural Mortgage by 11.1% in the second quarter. Byrne Asset Management LLC now owns 1,203 shares of the credit services provider’s stock valued at $240,000 after purchasing an additional 120 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Federal Agricultural Mortgage by 3,862.5% during the 2nd quarter. Versant Capital Management Inc now owns 317 shares of the credit services provider’s stock worth $63,000 after buying an additional 309 shares in the last quarter. Militia Capital Management LLC acquired a new position in Federal Agricultural Mortgage during the 1st quarter worth $2,374,000. Bank of America Corp DE boosted its position in Federal Agricultural Mortgage by 6.8% in the 1st quarter. Bank of America Corp DE now owns 17,158 shares of the credit services provider’s stock valued at $2,545,000 after buying an additional 1,087 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Federal Agricultural Mortgage by 37.9% in the 1st quarter. California State Teachers Retirement System now owns 11,907 shares of the credit services provider’s stock valued at $1,766,000 after buying an additional 3,275 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.
Federal Agricultural Mortgage Price Performance
AGM opened at $221.79 on Monday. The company has a fifty day moving average price of $209.94 and a two-hundred day moving average price of $181.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.56 and a current ratio of 0.56. Federal Agricultural Mortgage Corporation has a 52 week low of $136.57 and a 52 week high of $248.29. The firm has a market capitalization of $2.41 billion, a PE ratio of 12.11, a P/E/G ratio of 0.82 and a beta of 0.98.
Federal Agricultural Mortgage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Federal Agricultural Mortgage’s dividend payout ratio is currently 34.95%.
Analyst Ratings Changes
A number of research firms have recently weighed in on AGM. Keefe, Bruyette & Woods boosted their target price on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. Zacks Research upgraded Federal Agricultural Mortgage from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $255.00.
Read Our Latest Stock Report on Federal Agricultural Mortgage
About Federal Agricultural Mortgage
Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.
The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.
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