Federal Agricultural Mortgage Corporation (NYSE:AGM – Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $190.52 and traded as high as $218.97. Federal Agricultural Mortgage shares last traded at $216.9240, with a volume of 83,930 shares.
Analysts Set New Price Targets
A number of analysts have recently issued reports on AGM shares. Zacks Research upgraded shares of Federal Agricultural Mortgage from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Federal Agricultural Mortgage from $228.00 to $255.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $255.00.
Read Our Latest Research Report on AGM
Federal Agricultural Mortgage Trading Down 2.3%
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $0.53. The firm had revenue of $125.01 million for the quarter, compared to the consensus estimate of $113.51 million. Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. As a group, analysts forecast that Federal Agricultural Mortgage Corporation will post 20.72 earnings per share for the current fiscal year.
Federal Agricultural Mortgage Dividend Announcement
The company 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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Federal Agricultural Mortgage’s payout ratio is currently 34.95%.
Institutional Trading of Federal Agricultural Mortgage
Several institutional investors and hedge funds have recently bought and sold shares of AGM. Huntington Bancshares Inc. MD acquired a new position in shares of Federal Agricultural Mortgage in the 2nd quarter worth approximately $2,340,508,000. Wellington Management Group LLP raised its position in shares of Federal Agricultural Mortgage by 3.1% during the 2nd quarter. Wellington Management Group LLP now owns 327,881 shares of the credit services provider’s stock valued at $65,337,000 after acquiring an additional 9,809 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Federal Agricultural Mortgage by 12.7% during the first quarter. Principal Financial Group Inc. now owns 351,330 shares of the credit services provider’s stock worth $52,123,000 after purchasing an additional 39,702 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in Federal Agricultural Mortgage by 2.1% during the fourth quarter. Rice Hall James & Associates LLC now owns 112,424 shares of the credit services provider’s stock worth $19,738,000 after purchasing an additional 2,330 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Federal Agricultural Mortgage by 55.5% in the first quarter. Empowered Funds LLC now owns 96,341 shares of the credit services provider’s stock worth $14,292,000 after purchasing an additional 34,375 shares during the period. Institutional investors and hedge funds own 68.03% of the company’s stock.
About Federal Agricultural Mortgage
Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a federally chartered corporation that provides a secondary market for agricultural and rural infrastructure loans. Its activities help agricultural lenders obtain funding and liquidity, supporting the availability of credit for farmers, ranchers, rural homeowners and rural businesses across the United States.
Farmer Mac purchases eligible loans and provides loan guarantees, securitization and other financing solutions through its business segments.
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