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

Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $171.22 and traded as high as $203.03. Federal Agricultural Mortgage shares last traded at $199.7690, with a volume of 80,591 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AGM. Wall Street Zen raised shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Federal Agricultural Mortgage presently has an average rating of “Moderate Buy” and a consensus price target of $228.00.

Federal Agricultural Mortgage Trading Up 1.0%

The firm has a 50-day moving average of $182.94 and a 200 day moving average of $171.37. The company has a market cap of $2.17 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. 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 earnings results on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.30. The business 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 predict that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 3.2%. The ex-dividend date was Monday, June 15th. Federal Agricultural Mortgage’s payout ratio is presently 36.82%.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Several hedge funds and other institutional investors have recently bought and sold shares of AGM. Thrivent Financial for Lutherans boosted its position in shares of Federal Agricultural Mortgage by 3.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 436,786 shares of the credit services provider’s stock worth $76,686,000 after purchasing an additional 16,107 shares in the last quarter. Captrust Financial Advisors increased 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 buying an additional 46,262 shares in the last quarter. Principal Financial Group Inc. raised its stake in Federal Agricultural Mortgage by 12.7% during the 1st quarter. Principal Financial Group Inc. now owns 351,330 shares of the credit services provider’s stock worth $52,123,000 after buying an additional 39,702 shares during the period. Boston Partners boosted its holdings in Federal Agricultural Mortgage by 2.0% in the fourth quarter. Boston Partners now owns 345,551 shares of the credit services provider’s stock worth $60,191,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Federal Agricultural Mortgage in the third quarter valued at approximately $46,324,000. 68.03% of the stock is owned by 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.