Federal Agricultural Mortgage (NYSE:AGM) Releases Earnings Results, Beats Expectations By $0.30 EPS

Federal Agricultural Mortgage (NYSE:AGM) posted its quarterly earnings data on Tuesday. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.30, FiscalAI reports. The company had revenue of $109.13 million during the quarter, compared to analysts’ expectations of $110.76 million. Federal Agricultural Mortgage had a return on equity of 17.93% and a net margin of 15.73%.

Federal Agricultural Mortgage Stock Up 0.6%

NYSE:AGM traded up $1.02 during mid-day trading on Tuesday, reaching $171.55. The company’s stock had a trading volume of 118,303 shares, compared to its average volume of 116,214. Federal Agricultural Mortgage has a 1 year low of $136.57 and a 1 year high of $210.64. The stock has a fifty day moving average of $157.39 and a 200-day moving average of $166.20. The firm has a market capitalization of $1.86 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.00.

Federal Agricultural Mortgage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a $1.60 dividend. The ex-dividend date was Monday, March 16th. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.50. This represents a $6.40 annualized dividend and a dividend yield of 3.7%. Federal Agricultural Mortgage’s dividend payout ratio is presently 38.46%.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Several large investors have recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in shares of Federal Agricultural Mortgage by 14.8% during the fourth quarter. Captrust Financial Advisors now owns 358,908 shares of the credit services provider’s stock valued at $63,013,000 after purchasing an additional 46,262 shares in the last quarter. Boston Partners lifted its holdings in Federal Agricultural Mortgage by 2.0% during the fourth quarter. Boston Partners now owns 345,551 shares of the credit services provider’s stock worth $60,191,000 after buying an additional 6,800 shares during the period. Wellington Management Group LLP boosted its position in Federal Agricultural Mortgage by 44.5% during the 4th quarter. Wellington Management Group LLP now owns 262,931 shares of the credit services provider’s stock valued at $46,163,000 after acquiring an additional 80,911 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Federal Agricultural Mortgage by 23.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 225,325 shares of the credit services provider’s stock valued at $39,560,000 after acquiring an additional 43,266 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Federal Agricultural Mortgage by 18.3% during the 3rd quarter. Raymond James Financial Inc. now owns 182,745 shares of the credit services provider’s stock valued at $30,697,000 after acquiring an additional 28,228 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AGM shares. Keefe, Bruyette & Woods decreased their target price on Federal Agricultural Mortgage from $219.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. Wall Street Zen cut shares of Federal Agricultural Mortgage from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Federal Agricultural Mortgage has an average rating of “Moderate Buy” and an average price target of $215.00.

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.