Federal Agricultural Mortgage (NYSE:AGM) Receives “Outperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Federal Agricultural Mortgage (NYSE:AGM) in a report issued on Wednesday morning, Benzinga reports. They currently have a $212.00 price objective on the credit services provider’s stock, down from their prior price objective of $225.00.

Federal Agricultural Mortgage Stock Performance

Shares of AGM opened at $179.01 on Wednesday. Federal Agricultural Mortgage has a 12 month low of $122.96 and a 12 month high of $199.40. The stock has a fifty day moving average price of $187.43 and a 200-day moving average price of $179.56. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.51. The firm has a market cap of $1.94 billion, a PE ratio of 10.92 and a beta of 1.08.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings results on Monday, May 6th. The credit services provider reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.94 by $0.02. Federal Agricultural Mortgage had a return on equity of 22.68% and a net margin of 14.13%. The company had revenue of $403.63 million during the quarter, compared to analysts’ expectations of $92.22 million. During the same period last year, the business posted $3.56 earnings per share. Equities research analysts predict that Federal Agricultural Mortgage will post 17 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is currently 34.15%.

Institutional Trading of Federal Agricultural Mortgage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGM. Principal Securities Inc. purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth about $34,000. Quantbot Technologies LP purchased a new position in Federal Agricultural Mortgage during the 3rd quarter worth approximately $31,000. Sunbelt Securities Inc. boosted its holdings in shares of Federal Agricultural Mortgage by 194.2% in the 1st quarter. Sunbelt Securities Inc. now owns 203 shares of the credit services provider’s stock valued at $40,000 after acquiring an additional 134 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Federal Agricultural Mortgage by 304.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 263 shares of the credit services provider’s stock worth $50,000 after purchasing an additional 198 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Federal Agricultural Mortgage by 464.7% during the third quarter. Federated Hermes Inc. now owns 288 shares of the credit services provider’s stock valued at $44,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 68.03% of the company’s stock.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.