Federal Agricultural Mortgage Corp. (AGM) Sees Strong Trading Volume
Federal Agricultural Mortgage Corp. (NYSE:AGM) shares saw unusually-strong trading volume on Tuesday . Approximately 55,416 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 56,009 shares.The stock last traded at $37.60 and had previously closed at $36.51.
Several equities analysts recently issued reports on AGM shares. Sidoti cut Federal Agricultural Mortgage Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 11th. Compass Point cut Federal Agricultural Mortgage Corp. from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Thursday, May 12th. Finally, TheStreet upgraded Federal Agricultural Mortgage Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, March 30th. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $38.00.
The stock has a 50-day moving average of $35.45 and a 200-day moving average of $34.83. The firm has a market cap of $405.36 million and a P/E ratio of 7.79.
Federal Agricultural Mortgage Corp. (NYSE:AGM) last announced its earnings results on Tuesday, May 10th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.15 by $0.03. The firm earned $34.10 million during the quarter, compared to the consensus estimate of $34.85 million. On average, equities analysts forecast that Federal Agricultural Mortgage Corp. will post $4.57 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, June 13th.
In other news, Director Chester J. Culver sold 1,000 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $36.67, for a total transaction of $36,670.00. Following the transaction, the director now owns 5,904 shares of the company’s stock, valued at $216,499.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis A. Everson sold 750 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $37.91, for a total transaction of $28,432.50. Following the transaction, the director now directly owns 3,520 shares in the company, valued at approximately $133,443.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Federal Agricultural Mortgage Corp. stock. Morgan Stanley increased its stake in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 247.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 74,453 shares of the company’s stock after buying an additional 53,054 shares during the period. Morgan Stanley owned 0.68% of Federal Agricultural Mortgage Corp. worth $2,351,000 at the end of the most recent reporting period.
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company operates through four segments: Farm & Ranch, the United States Department of Agriculture (USDA) Guarantees, Rural Utilities and Institutional Credit.
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