Federal Agricultural Mortgage Corp. (AGM) Shares Up 3.5%
Federal Agricultural Mortgage Corp. (NYSE:AGM) shot up 3.5% during trading on Thursday . The company traded as high as $39.36 and last traded at $38.78, with a volume of 88,349 shares. The stock had previously closed at $37.47.
A number of research firms have commented on AGM. Compass Point cut shares of Federal Agricultural Mortgage Corp. from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Thursday, May 12th. Sidoti cut shares of Federal Agricultural Mortgage Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, May 11th. Finally, TheStreet upgraded shares of Federal Agricultural Mortgage Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $38.00.
The stock’s 50-day moving average price is $35.45 and its 200 day moving average price is $34.83. The firm has a market capitalization of $395.22 million and a PE ratio of 7.59.
Federal Agricultural Mortgage Corp. (NYSE:AGM) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $1.12 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.03. The company had revenue of $34.10 million for the quarter, compared to the consensus estimate of $34.85 million. On average, equities analysts anticipate that Federal Agricultural Mortgage Corp. will post $4.57 EPS for the current fiscal year.
The company also recently declared a dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, June 13th.
In related news, CEO Timothy L. Buzby sold 3,235 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $36.00, for a total transaction of $116,460.00. Following the completion of the sale, the chief executive officer now directly owns 82,029 shares in the company, valued at approximately $2,953,044. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis A. Everson sold 750 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $37.91, for a total transaction of $28,432.50. Following the sale, the director now owns 3,520 shares of the company’s stock, valued at $133,443.20. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Federal Agricultural Mortgage Corp. stock. Boston Partners increased its stake in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,881 shares of the company’s stock after buying an additional 5,966 shares during the period. Boston Partners owned approximately 1.88% of Federal Agricultural Mortgage Corp. worth $6,468,000 at the end of the most recent quarter.
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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