Federal Agricultural Mortgage Corporation (NYSE:AGM) Plans Quarterly Dividend of $1.60

Federal Agricultural Mortgage Corporation (NYSE:AGM) declared a quarterly dividend on Wednesday, May 13th. Stockholders of record on Monday, June 15th will be paid a dividend of 1.60 per share by the credit services provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th.

Federal Agricultural Mortgage has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. Federal Agricultural Mortgage has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Federal Agricultural Mortgage to earn $21.64 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 29.6%.

Federal Agricultural Mortgage Stock Down 4.1%

Shares of AGM stock opened at $171.11 on Thursday. Federal Agricultural Mortgage has a 1 year low of $136.57 and a 1 year high of $210.64. The stock has a market cap of $1.86 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. The business’s fifty day moving average is $160.14 and its 200-day moving average is $167.06. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.56 and a current ratio of 0.56.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%.The company had revenue of $109.13 million for the quarter, compared to analysts’ expectations of $110.76 million. Equities analysts expect that Federal Agricultural Mortgage will post 19.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AGM has been the topic of a number of recent research reports. Wall Street Zen upgraded Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods lifted their target price on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Federal Agricultural Mortgage has an average rating of “Moderate Buy” and an average price target of $228.00.

Federal Agricultural Mortgage Company Profile

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.