Amalgamated Bank Cuts Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

Amalgamated Bank lowered its position in Federal Agricultural Mortgage Co. (NYSE:AGM) by 9.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 886 shares of the credit services provider’s stock after selling 94 shares during the quarter. Amalgamated Bank’s holdings in Federal Agricultural Mortgage were worth $169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AGM. International Assets Investment Management LLC acquired a new stake in Federal Agricultural Mortgage in the 4th quarter worth approximately $18,283,000. Allspring Global Investments Holdings LLC raised its position in Federal Agricultural Mortgage by 943.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider’s stock worth $5,422,000 after acquiring an additional 25,638 shares during the period. Ballast Asset Management LP acquired a new position in Federal Agricultural Mortgage during the third quarter worth $3,575,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Federal Agricultural Mortgage by 4,095.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 15,271 shares of the credit services provider’s stock valued at $2,356,000 after buying an additional 14,907 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Federal Agricultural Mortgage in the third quarter valued at about $1,893,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Price Performance

Federal Agricultural Mortgage stock opened at $174.43 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.90 billion, a P/E ratio of 10.64, a PEG ratio of 1.55 and a beta of 1.08. The company has a 50-day moving average price of $185.66 and a 200 day moving average price of $181.64. Federal Agricultural Mortgage Co. has a 12-month low of $132.47 and a 12-month high of $199.40.

Federal Agricultural Mortgage (NYSE:AGM) last announced its earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.94 by $0.02. The company had revenue of $403.63 million during the quarter, compared to analyst estimates of $92.22 million. Federal Agricultural Mortgage had a net margin of 13.79% and a return on equity of 22.01%. During the same quarter last year, the firm posted $3.56 earnings per share. Sell-side analysts anticipate that Federal Agricultural Mortgage Co. will post 16.66 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, June 14th. Federal Agricultural Mortgage’s payout ratio is 34.15%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $212.00 target price (down from $225.00) on shares of Federal Agricultural Mortgage in a research report on Wednesday, May 8th.

Federal Agricultural Mortgage Company Profile

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.