Federal Agricultural Mortgage Corporation (NYSE:AGM) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.97 and last traded at $75.75, with a volume of 21,761 shares changing hands. The stock had previously closed at $74.27.
Several research firms have issued reports on AGM. BidaskClub cut Federal Agricultural Mortgage Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Federal Agricultural Mortgage Corporation in a report on Thursday, September 21st. Finally, TheStreet cut Federal Agricultural Mortgage Corporation from a “b-” rating to a “c+” rating in a report on Friday, August 11th.
The stock’s 50-day moving average is $69.15 and its 200-day moving average is $64.37. The company has a market cap of $804.42 million, a P/E ratio of 10.45 and a beta of 1.18.
Federal Agricultural Mortgage Corporation (NYSE:AGM) last announced its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.12. Federal Agricultural Mortgage Corporation had a net margin of 24.02% and a return on equity of 15.01%. The business had revenue of $43.48 million for the quarter. Equities analysts forecast that Federal Agricultural Mortgage Corporation will post $5.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.36 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 1.90%. Federal Agricultural Mortgage Corporation’s dividend payout ratio is currently 19.81%.
In related news, CEO Timothy L. Buzby sold 2,450 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $74.85, for a total value of $183,382.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Robert Dale Lynch sold 4,392 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $307,440.00. The disclosure for this sale can be found here. Insiders sold 35,647 shares of company stock worth $2,579,610 over the last 90 days. 3.75% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Globeflex Capital L P acquired a new stake in Federal Agricultural Mortgage Corporation in the first quarter worth $114,000. C M Bidwell & Associates Ltd. acquired a new stake in Federal Agricultural Mortgage Corporation in the second quarter worth $222,000. Virtu KCG Holdings LLC acquired a new stake in Federal Agricultural Mortgage Corporation in the second quarter worth $275,000. Citadel Advisors LLC acquired a new stake in Federal Agricultural Mortgage Corporation in the first quarter worth $250,000. Finally, Karp Capital Management Corp acquired a new stake in Federal Agricultural Mortgage Corporation in the first quarter worth $269,000. Institutional investors and hedge funds own 65.14% of the company’s stock.
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Federal Agricultural Mortgage Corporation Company Profile
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.
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