Federal Agricultural Mortgage (NYSE:AGM) Issues Earnings Results, Beats Estimates By $0.19 EPS

Federal Agricultural Mortgage (NYSE:AGM) released its quarterly earnings data on Friday. The credit services provider reported $4.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.19, Zacks reports. The business had revenue of $96.79 million for the quarter, compared to analysts’ expectations of $94.33 million. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%.

Federal Agricultural Mortgage Price Performance

Shares of AGM opened at $185.74 on Friday. The firm has a market cap of $2.02 billion, a PE ratio of 11.29, a P/E/G ratio of 1.69 and a beta of 0.97. Federal Agricultural Mortgage has a 1-year low of $159.64 and a 1-year high of $217.60. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58. The firm has a fifty day simple moving average of $182.16 and a two-hundred day simple moving average of $194.03.

Federal Agricultural Mortgage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.50 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.00 annualized dividend and a yield of 3.23%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is currently 36.47%.

Insider Buying and Selling

In related news, Director Mitchell A. Johnson sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $205.21, for a total transaction of $513,025.00. Following the completion of the transaction, the director now owns 8,644 shares in the company, valued at approximately $1,773,835.24. This represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aparna Ramesh sold 1,000 shares of Federal Agricultural Mortgage stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $201.86, for a total value of $201,860.00. Following the completion of the sale, the chief financial officer now directly owns 9,242 shares in the company, valued at $1,865,590.12. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price target on Federal Agricultural Mortgage from $205.00 to $230.00 and gave the company a “market perform” rating in a report on Monday, February 24th.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company’s Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.