Federal Agricultural Mortgage (NYSE:AGM) Hits New 12-Month High – Here’s Why

Federal Agricultural Mortgage Corporation (NYSE:AGM)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $213.91 and last traded at $209.45, with a volume of 5905 shares changing hands. The stock had previously closed at $209.51.

Analysts Set New Price Targets

A number of brokerages have weighed in on AGM. Keefe, Bruyette & Woods increased their price target on shares of Federal Agricultural Mortgage from $215.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.00.

Federal Agricultural Mortgage Trading Up 1.9%

The firm has a market capitalization of $2.31 billion, a P/E ratio of 12.25, a PEG ratio of 0.96 and a beta of 0.99. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.93. The business has a 50-day moving average price of $191.27 and a 200-day moving average price of $174.15.

Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Tuesday, May 5th. The credit services provider reported $4.74 EPS for the quarter, topping the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%.The firm had revenue of $109.12 million during the quarter, compared to analysts’ expectations of $110.76 million. Analysts anticipate that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.60 dividend. The ex-dividend date was Monday, June 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.0%. Federal Agricultural Mortgage’s dividend payout ratio is currently 36.82%.

Institutional Trading of Federal Agricultural Mortgage

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC raised its position in 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 worth $240,000 after purchasing an additional 120 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of 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 during the period. Militia Capital Management LLC acquired a new position in shares of Federal Agricultural Mortgage in the 1st quarter worth approximately $2,374,000. Bank of America Corp DE raised its holdings in shares of 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 worth $2,545,000 after buying an additional 1,087 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Federal Agricultural Mortgage by 37.9% during the 1st quarter. California State Teachers Retirement System now owns 11,907 shares of the credit services provider’s stock worth $1,766,000 after buying an additional 3,275 shares during the period. Institutional investors own 68.03% of the company’s stock.

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.