Federal Agricultural Mortgage (NYSE:AGM) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Federal Agricultural Mortgage Corporation (NYSE:AGM)’s stock price passed 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 trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGM. Keefe, Bruyette & Woods increased their price target on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $228.00.

Federal Agricultural Mortgage Price Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 0.80 and a beta of 1.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.93. The company’s fifty day moving average is $168.22 and its two-hundred day moving average is $168.66.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.30. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%.The company had revenue of $109.13 million for the quarter, compared to analysts’ expectations of $110.76 million. As a group, research analysts predict that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently announced 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 36.82%.

Institutional Trading of Federal Agricultural Mortgage

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Federal Agricultural Mortgage by 8.3% in the first quarter. AQR Capital Management LLC now owns 6,702 shares of the credit services provider’s stock valued at $1,257,000 after purchasing an additional 513 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Federal Agricultural Mortgage by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,469 shares of the credit services provider’s stock worth $1,025,000 after buying an additional 267 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Federal Agricultural Mortgage by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,683 shares of the credit services provider’s stock worth $4,066,000 after buying an additional 2,070 shares during the period. Intech Investment Management LLC lifted its holdings in Federal Agricultural Mortgage by 54.1% during the 1st quarter. Intech Investment Management LLC now owns 7,678 shares of the credit services provider’s stock worth $1,440,000 after buying an additional 2,694 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Federal Agricultural Mortgage during the 1st quarter worth approximately $34,000. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

About Federal Agricultural Mortgage

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.