Federal Agricultural Mortgage Corporation (NYSE:AGM) Short Interest Update
by Teresa Graham · The Cerbat GemFederal Agricultural Mortgage Corporation (NYSE:AGM – Get Free Report) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 366,391 shares, a decrease of 15.0% from the March 31st total of 430,997 shares. Based on an average trading volume of 88,757 shares, the short-interest ratio is currently 4.1 days. Approximately 3.5% of the company’s stock are sold short.
Federal Agricultural Mortgage Stock Performance
NYSE:AGM traded up $1.13 on Friday, hitting $174.93. The stock had a trading volume of 169,849 shares, compared to its average volume of 116,230. Federal Agricultural Mortgage has a 52-week low of $136.57 and a 52-week high of $210.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.00. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 0.81 and a beta of 0.95. The business’s 50-day simple moving average is $157.39 and its two-hundred day simple moving average is $166.17.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The credit services provider reported $3.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.84). Federal Agricultural Mortgage had a net margin of 15.73% and a return on equity of 17.93%. The company had revenue of $101.39 million for the quarter, compared to analysts’ expectations of $107.45 million. As a group, research analysts predict that Federal Agricultural Mortgage will post 19.41 earnings per share for the current year.
Federal Agricultural Mortgage Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.50. Federal Agricultural Mortgage’s payout ratio is presently 38.46%.
Wall Street Analysts Forecast Growth
AGM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on Federal Agricultural Mortgage from $219.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. Wall Street Zen cut Federal Agricultural Mortgage from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.
Get Our Latest Report on Federal Agricultural Mortgage
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in AGM. AQR Capital Management LLC lifted its position in shares of Federal Agricultural Mortgage by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 6,702 shares of the credit services provider’s stock valued at $1,257,000 after buying an additional 513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Federal Agricultural Mortgage by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,469 shares of the credit services provider’s stock worth $1,025,000 after purchasing an additional 267 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Federal Agricultural Mortgage by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,683 shares of the credit services provider’s stock worth $4,066,000 after purchasing an additional 2,070 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Federal Agricultural Mortgage by 54.1% in the 1st quarter. Intech Investment Management LLC now owns 7,678 shares of the credit services provider’s stock worth $1,440,000 after purchasing an additional 2,694 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Federal Agricultural Mortgage in the 1st quarter worth approximately $34,000. 68.03% of the stock is owned by hedge funds and other institutional investors.
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.