Federal Agricultural Mortgage (NYSE:AGM) Price Target Raised to $255.00

Federal Agricultural Mortgage (NYSE:AGMFree Report) had its target price raised by Keefe, Bruyette & Woods from $228.00 to $255.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the credit services provider’s stock.

A number of other equities research analysts have also recently commented on AGM. Weiss Ratings raised Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Wall Street Zen raised Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $255.00.

Get Our Latest Stock Analysis on AGM

Federal Agricultural Mortgage Price Performance

AGM stock opened at $237.44 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50-day moving average is $197.52 and its 200-day moving average is $176.60. The stock has a market capitalization of $2.58 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.90 and a beta of 0.98. Federal Agricultural Mortgage has a 1 year low of $136.57 and a 1 year high of $248.29.

Federal Agricultural Mortgage (NYSE:AGMGet Free Report) last issued its earnings results 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. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%.The business had revenue of $125.01 million during the quarter, compared to analyst estimates of $113.51 million. Equities research analysts expect that Federal Agricultural Mortgage will post 20.72 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.40 annualized dividend and a dividend yield of 2.7%. Federal Agricultural Mortgage’s payout ratio is presently 34.95%.

Hedge Funds Weigh In On Federal Agricultural Mortgage

Large investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC boosted its stake in Federal Agricultural Mortgage by 11.1% during the 2nd 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 during the last quarter. Versant Capital Management Inc raised its stake in shares of Federal Agricultural Mortgage by 3,862.5% in the second quarter. Versant Capital Management Inc now owns 317 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 309 shares during the last quarter. Militia Capital Management LLC purchased a new stake in shares of Federal Agricultural Mortgage in the first quarter worth approximately $2,374,000. Bank of America Corp DE lifted its holdings in shares of Federal Agricultural Mortgage by 6.8% in the first quarter. Bank of America Corp DE now owns 17,158 shares of the credit services provider’s stock valued at $2,545,000 after purchasing an additional 1,087 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Federal Agricultural Mortgage by 37.9% in the first quarter. California State Teachers Retirement System now owns 11,907 shares of the credit services provider’s stock valued at $1,766,000 after purchasing an additional 3,275 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Key Federal Agricultural Mortgage News

Here are the key news stories impacting Federal Agricultural Mortgage this week:

About Federal Agricultural Mortgage

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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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