Federal Agricultural Mortgage (NYSE:AGM) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Federal Agricultural Mortgage (NYSE:AGM) posted its quarterly earnings data on Friday. The credit services provider reported $4.19 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.19, Zacks reports. The business had revenue of $96.79 million for the quarter, compared to analyst estimates of $94.33 million. Federal Agricultural Mortgage had a net margin of 12.75% and a return on equity of 19.43%.

Federal Agricultural Mortgage Trading Up 4.8 %

Federal Agricultural Mortgage stock opened at $185.74 on Friday. Federal Agricultural Mortgage has a 1 year low of $159.64 and a 1 year high of $217.60. The firm’s 50 day moving average price is $182.16 and its two-hundred day moving average price is $194.03. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.69 and a beta of 0.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.49 and a current ratio of 0.49.

Federal Agricultural Mortgage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 3.23%. Federal Agricultural Mortgage’s dividend payout ratio is currently 36.47%.

Insider Transactions at Federal Agricultural Mortgage

In other news, Director Robert G. Sexton purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $195.62 per share, with a total value of $195,620.00. Following the purchase, the director now directly owns 13,517 shares of the company’s stock, valued at approximately $2,644,195.54. This trade represents a 7.99 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mitchell A. Johnson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $205.21, for a total value of $513,025.00. Following the completion of the transaction, the director now owns 8,644 shares in the company, valued at $1,773,835.24. This represents a 22.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on Federal Agricultural Mortgage from $205.00 to $230.00 and gave the company a “market perform” rating in a report on Monday, February 24th.

About Federal Agricultural Mortgage

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.