Federal Agricultural Mortgage (NYSE:AGM) Shares Pass Above 200 Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Federal Agricultural Mortgage Corporation (NYSE:AGMGet Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $168.66 and traded as high as $183.91. Federal Agricultural Mortgage shares last traded at $182.4420, with a volume of 207,894 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AGM shares. 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 increased 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, May 12th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Federal Agricultural Mortgage presently has an average rating of “Moderate Buy” and a consensus target price of $228.00.

Check Out Our Latest Stock Analysis on AGM

Federal Agricultural Mortgage Price Performance

The company has a market cap of $1.97 billion, a P/E ratio of 10.42, a PEG ratio of 0.84 and a beta of 1.00. The company has a fifty day moving average price of $168.95 and a two-hundred day moving average price of $168.75. 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:AGMGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.30. The company had revenue of $109.13 million during the quarter, compared to analysts’ expectations of $110.76 million. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%. On average, sell-side analysts anticipate that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, June 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.5%. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is presently 36.82%.

Hedge Funds Weigh In On Federal Agricultural Mortgage

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Federal Agricultural Mortgage by 6.8% in the first quarter. Bank of America Corp DE now owns 17,158 shares of the credit services provider’s stock valued at $2,545,000 after purchasing an additional 1,087 shares during the period. California State Teachers Retirement System grew its stake in Federal Agricultural Mortgage by 37.9% in the 1st quarter. California State Teachers Retirement System now owns 11,907 shares of the credit services provider’s stock valued at $1,766,000 after buying an additional 3,275 shares during the last quarter. Empowered Funds LLC lifted its position in Federal Agricultural Mortgage by 55.5% during the first quarter. Empowered Funds LLC now owns 96,341 shares of the credit services provider’s stock worth $14,292,000 after acquiring an additional 34,375 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Federal Agricultural Mortgage by 10.4% during the first quarter. Quantinno Capital Management LP now owns 2,859 shares of the credit services provider’s stock worth $424,000 after acquiring an additional 269 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Federal Agricultural Mortgage by 2.0% during the first quarter. Rice Hall James & Associates LLC now owns 114,705 shares of the credit services provider’s stock worth $17,016,000 after acquiring an additional 2,281 shares during the period. 68.03% of the stock is owned by institutional investors.

About Federal Agricultural Mortgage

(Get Free Report)

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.

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