Federal Agricultural Mortgage Corporation Declares Quarterly Dividend of $1.50 (NYSE:AGM)

Key Points

• Federal Agricultural Mortgage Corporation declared a quarterly dividend of $1.50 per share, with an annualized dividend yield of 3.2%, payable on September 30th to investors on record as of September 15th.
• The company reported earnings of $4.32 per share for the quarter, surpassing estimates, and posted revenue of $100.51 million, which was above expectations.
• Insider ownership is at 2.20%, with significant recent trading activity, including the sale of 728 shares by a director, indicating varying confidence levels among insiders.

Federal Agricultural Mortgage Corporation (NYSE:AGM - Get Free Report) declared a quarterly dividend on Friday, August 15th, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be paid a dividend of 1.50 per share by the credit services provider on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th.

Federal Agricultural Mortgage has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federal Agricultural Mortgage to earn $18.28 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 32.8%.

Federal Agricultural Mortgage Stock Up 0.4%

Shares of NYSE:AGM traded up $0.8250 during trading hours on Wednesday, hitting $195.8250. The company's stock had a trading volume of 75,768 shares, compared to its average volume of 64,820. Federal Agricultural Mortgage has a 52 week low of $159.64 and a 52 week high of $217.14. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.01 and a beta of 1.02. The firm's fifty day moving average price is $185.05 and its 200 day moving average price is $187.13.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.29 by $0.03. The firm had revenue of $100.51 million for the quarter, compared to the consensus estimate of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. As a group, research analysts expect that Federal Agricultural Mortgage will post 17.6 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the company a "market perform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $217.00.

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.