Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM – Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $195.30 and traded as high as $208.88. Federal Agricultural Mortgage shares last traded at $208.00, with a volume of 125,162 shares changing hands.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective 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. Zacks Research cut shares of Federal Agricultural Mortgage from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Federal Agricultural Mortgage in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Federal Agricultural Mortgage has an average rating of “Hold” and an average price target of $255.00.
Read Our Latest Stock Analysis on AGM
Federal Agricultural Mortgage Price Performance
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.53. The firm had revenue of $125.01 million during the quarter, compared to analysts’ expectations of $113.51 million. Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. Equities research analysts forecast that Federal Agricultural Mortgage Corporation will post 20.72 earnings per share for the current year.
Federal Agricultural Mortgage Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 34.95%.
Hedge Funds Weigh In On Federal Agricultural Mortgage
A number of large investors have recently made changes to their positions in AGM. Public Employees Retirement System of Ohio acquired a new stake in shares of Federal Agricultural Mortgage during the 2nd quarter valued at approximately $27,000. Ancora Advisors LLC acquired a new stake in shares of Federal Agricultural Mortgage in the 2nd quarter worth approximately $42,000. Nykredit A S acquired a new stake in shares of Federal Agricultural Mortgage in the 2nd quarter worth approximately $50,000. Versant Capital Management Inc increased its stake in Federal Agricultural Mortgage by 3,862.5% in the 2nd quarter. Versant Capital Management Inc now owns 317 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 309 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Federal Agricultural Mortgage in the 2nd quarter valued at approximately $93,000. Hedge funds and other institutional investors 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, shareholder-owned company that provides a secondary market for agricultural and rural credit. Established by Congress in 1988 under the Agricultural Credit Act of 1987, Farmer Mac is designed to improve the availability and affordability of financing for America’s agricultural and rural communities.
The company supports agricultural lenders by purchasing eligible loans and providing guarantees and other forms of credit enhancement.
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