Federal Agricultural Mortgage (NYSE:AGM) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Federal Agricultural Mortgage (NYSE:AGM) shares moved above their 200-day moving average, trading as high as $201.03 and last changing hands near $195.77.
• Analysts have recently turned more constructive: Keefe, Bruyette & Woods raised its price target to $228 and maintained an outperform rating, while the consensus view is now Moderate Buy.
• The company reported better-than-expected Q1 earnings of $4.74 per share, and it also paid a quarterly dividend of $1.60 per share, implying a 3.3% yield.

Federal Agricultural Mortgage Corporation (NYSE:AGM - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $172.17 and traded as high as $201.03. Federal Agricultural Mortgage shares last traded at $195.7720, with a volume of 121,823 shares traded.

Analyst Ratings Changes

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

Federal Agricultural Mortgage Trading Down 1.6%

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 has a 50-day simple moving average of $185.52 and a 200 day simple moving average of $172.17. The firm has a market cap of $2.12 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its earnings results on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.20%. The firm had revenue of $109.12 million during the quarter, compared to analyst estimates of $110.76 million. As a group, sell-side analysts forecast that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, June 15th. Federal Agricultural Mortgage's dividend payout ratio is presently 36.82%.

Hedge Funds Weigh In On Federal Agricultural Mortgage

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Federal Agricultural Mortgage by 640.0% in the fourth quarter. Allworth Financial LP now owns 185 shares of the credit services provider's stock valued at $32,000 after buying an additional 160 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Federal Agricultural Mortgage in the 1st quarter valued at $34,000. Farther Finance Advisors LLC grew its stake in Federal Agricultural Mortgage by 53.6% in the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the credit services provider's stock valued at $37,000 after acquiring an additional 74 shares during the period. Kestra Advisory Services LLC purchased a new stake in Federal Agricultural Mortgage in the 4th quarter worth $40,000. Finally, Advisory Services Network LLC purchased a new stake in Federal Agricultural Mortgage in the 3rd quarter worth $48,000. Hedge funds and other institutional investors own 68.03% of the company's stock.

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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