Federal Agricultural Mortgage (NYSE:AGM) Stock Price Breaks Below 200-Day Moving Average After Earnings Miss

Federal Agricultural Mortgage Corporation (NYSE:AGM)’s share price crossed below its 200-day moving average during trading on Friday following a dissappointing earnings announcement. The stock has a 200-day moving average of $189.59 and traded as low as $172.10. Federal Agricultural Mortgage shares last traded at $180.1830, with a volume of 180,271 shares trading hands.

The credit services provider reported $4.82 earnings per share for the quarter, missing the consensus estimate of $5.20 by ($0.38). Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. The firm had revenue of $125.25 million during the quarter, compared to analyst estimates of $121.29 million.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $6.40 annualized dividend and a yield of 3.6%. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is currently 34.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AGM shares. Zacks Research lowered shares of Federal Agricultural Mortgage from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Keefe, Bruyette & Woods raised their price objective 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Federal Agricultural Mortgage in a research report on Friday, September 25th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Huntington Bancshares Inc. MD purchased a new stake in shares of Federal Agricultural Mortgage during the 2nd quarter valued at about $2,340,508,000. Wellington Management Group LLP grew its position in Federal Agricultural Mortgage by 3.1% during the second quarter. Wellington Management Group LLP now owns 327,881 shares of the credit services provider’s stock valued at $65,337,000 after buying an additional 9,809 shares during the period. Principal Financial Group Inc. increased its holdings 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 valued at $52,123,000 after buying an additional 39,702 shares during the last quarter. Rice Hall James & Associates LLC raised its position in Federal Agricultural Mortgage by 2.0% in the first quarter. Rice Hall James & Associates LLC now owns 114,705 shares of the credit services provider’s stock worth $17,016,000 after acquiring an additional 2,281 shares during the period. Finally, Empowered Funds LLC raised its position 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 acquiring an additional 34,375 shares during the period. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Down 9.0%

The company’s 50 day moving average price is $211.65 and its two-hundred day moving average price is $189.59. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.82. The firm has a market cap of $1.95 billion, a PE ratio of 9.53, a PEG ratio of 0.77 and a beta of 1.02.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a federally chartered corporation that provides a secondary market for agricultural and rural lending. Established by Congress in 1988, the company is intended to improve the availability of credit for American agriculture and rural communities.

Farmer Mac purchases, guarantees and finances agricultural real estate loans, rural housing loans and loans supporting rural utilities and infrastructure. Its products and services also include financing for agricultural production and equipment, as well as liquidity and credit support for lenders through loan purchases, guarantees and securitization programs.

The company serves agricultural lenders, rural utilities, cooperatives and other eligible financial institutions across the United States.