Federal Agricultural Mortgage (NYSE:AGM) Posts Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Key Points

• Federal Agricultural Mortgage beat quarterly expectations: The company reported $5.40 in EPS, $0.53 above consensus, while revenue of $125.01 million exceeded estimates of $113.51 million.
• Shares rose to $219.26 following the results, near the company’s 12-month high of $221.22. The stock has a $2.38 billion market capitalization and a beta of 0.99.
• Investors received a quarterly dividend of $1.60 per share, equivalent to $6.40 annually and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $228.00.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) posted its quarterly earnings data on Thursday. The credit services provider reported $5.40 EPS for the quarter, topping analysts' consensus estimates of $4.87 by $0.53, FiscalAI reports. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%.The business had revenue of $125.01 million for the quarter, compared to analyst estimates of $113.51 million.

Federal Agricultural Mortgage Stock Performance

Shares of NYSE AGM traded up $5.59 during trading hours on Thursday, reaching $219.26. The stock had a trading volume of 141,156 shares, compared to its average volume of 122,942. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.98 and a beta of 0.99. Federal Agricultural Mortgage has a twelve month low of $136.57 and a twelve month high of $221.22. The business's fifty day moving average is $192.04 and its two-hundred day moving average is $174.41. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.56 and a quick ratio of 0.56.

Federal Agricultural Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, June 15th. Federal Agricultural Mortgage's dividend payout ratio is presently 36.82%.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Several institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors raised its stake in shares of 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. Boston Partners boosted its position in shares of Federal Agricultural Mortgage by 2.0% during the 4th quarter. Boston Partners now owns 345,551 shares of the credit services provider's stock valued at $60,191,000 after acquiring an additional 6,800 shares in the last quarter. Wellington Management Group LLP increased its stake in Federal Agricultural Mortgage by 44.5% in the fourth quarter. Wellington Management Group LLP now owns 262,931 shares of the credit services provider's stock valued at $46,163,000 after acquiring an additional 80,911 shares during the period. Loomis Sayles & Co. L P increased its stake in Federal Agricultural Mortgage by 23.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 225,325 shares of the credit services provider's stock valued at $39,560,000 after acquiring an additional 43,266 shares during the period. Finally, Raymond James Financial Inc. raised its position in Federal Agricultural Mortgage by 18.3% in the third quarter. Raymond James Financial Inc. now owns 182,745 shares of the credit services provider's stock worth $30,697,000 after purchasing an additional 28,228 shares in the last quarter. Institutional investors own 68.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Federal Agricultural Mortgage from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Federal Agricultural Mortgage from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $228.00.

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.

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