Federal Agricultural Mortgage (NYSE:AGM) Reaches New 12-Month High – Here’s Why

Federal Agricultural Mortgage Corporation (NYSE:AGM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $213.91 and last traded at $209.45, with a volume of 5905 shares changing hands. The stock had previously closed at $209.51.

Analyst Upgrades and Downgrades

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

Federal Agricultural Mortgage Price Performance

The stock has a market cap of $2.29 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The business has a 50-day simple moving average of $189.74 and a 200 day simple moving average of $173.65. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.93.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.44 by $0.30. The company had revenue of $109.12 million during the quarter, compared to the consensus estimate of $110.76 million. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%. On average, analysts forecast that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio is currently 36.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Federal Agricultural Mortgage in the 1st quarter valued at $34,000. Allworth Financial LP raised its stake in Federal Agricultural Mortgage by 640.0% during the fourth quarter. Allworth Financial LP now owns 185 shares of the credit services provider’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Federal Agricultural Mortgage by 53.6% during the fourth quarter. Farther Finance Advisors LLC now owns 212 shares of the credit services provider’s stock worth $37,000 after buying an additional 74 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Federal Agricultural Mortgage in the fourth quarter valued at $40,000. Finally, Advisory Services Network LLC acquired a new position in Federal Agricultural Mortgage in the third quarter valued at $48,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

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.