Federal Agricultural Mortgage (NYSE:AGM) Issues Earnings Results

Federal Agricultural Mortgage (NYSE:AGM) released its earnings results on Thursday. The credit services provider reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.53, FiscalAI reports. The business had revenue of $125.01 million during the quarter, compared to the consensus estimate of $113.51 million. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.20%.

Federal Agricultural Mortgage Stock Up 2.6%

Shares of AGM stock traded up $5.59 on Thursday, reaching $219.26. 141,212 shares of the company were exchanged, compared to its average volume of 123,327. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50-day moving average of $192.04 and a 200-day moving average of $174.41. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.98 and a beta of 0.99. Federal Agricultural Mortgage has a one year low of $136.57 and a one year high of $221.22.

Federal Agricultural Mortgage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio is 36.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AGM. Keefe, Bruyette & Woods increased their price objective on shares of Federal Agricultural Mortgage from $215.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.00.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Federal Agricultural Mortgage by 44.5% in 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 purchasing an additional 80,911 shares during the period. Captrust Financial Advisors lifted its position in Federal Agricultural Mortgage by 14.8% in the 4th quarter. Captrust Financial Advisors now owns 358,908 shares of the credit services provider’s stock valued at $63,013,000 after acquiring an additional 46,262 shares in the last quarter. Man Group plc boosted its stake in Federal Agricultural Mortgage by 1,262.0% during the 3rd quarter. Man Group plc now owns 47,508 shares of the credit services provider’s stock valued at $7,980,000 after purchasing an additional 44,020 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings 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 worth $39,560,000 after purchasing an additional 43,266 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Federal Agricultural Mortgage by 309.3% during the 3rd quarter. Marshall Wace LLP now owns 37,601 shares of the credit services provider’s stock worth $6,316,000 after purchasing an additional 28,414 shares in the last quarter. Institutional investors and hedge funds own 68.03% of the company’s stock.

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.