Federal Agricultural Mortgage (NYSE:AGM) Given New $217.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has raised its target price for Federal Agricultural Mortgage (NYSE:AGM) from $215.00 to $217.00, indicating a potential upside of 23.29% from the previous close.
• The company reported $4.32 EPS for its recent quarter, exceeding estimates, with a revenue of $100.51 million, up from the anticipated $96.54 million.
• Recent insider trading included Director Sara Louise Faivre-Davis selling 350 shares, reducing her stake by 16.66%, while hedge funds have increased their interest in the stock significantly in recent months.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) had its price target upped by stock analysts at Keefe, Bruyette & Woods from $215.00 to $217.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "market perform" rating on the credit services provider's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 21.96% from the stock's previous close.

Federal Agricultural Mortgage Stock Performance

Shares of AGM traded up $5.93 during trading hours on Friday, hitting $177.93. The company's stock had a trading volume of 102,776 shares, compared to its average volume of 63,914. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.93 and a beta of 1.02. 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 business has a 50 day simple moving average of $185.32 and a two-hundred day simple moving average of $187.56. Federal Agricultural Mortgage has a 52-week low of $159.64 and a 52-week high of $217.14.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its earnings results on Thursday, August 7th. The credit services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.03. The firm had revenue of $100.51 million during 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%. On average, equities analysts expect that Federal Agricultural Mortgage will post 17.6 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eric T. Mckissack sold 728 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $192.37, for a total value of $140,045.36. Following the completion of the transaction, the director directly owned 2,357 shares in the company, valued at approximately $453,416.09. This trade represents a 23.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sara Louise Faivre-Davis sold 350 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $192.26, for a total transaction of $67,291.00. Following the completion of the transaction, the director owned 1,751 shares of the company's stock, valued at $336,647.26. This trade represents a 16.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Federal Agricultural Mortgage

A number of large investors have recently modified their holdings of AGM. Allworth Financial LP boosted its position in shares of Federal Agricultural Mortgage by 12,800.0% in the second quarter. Allworth Financial LP now owns 129 shares of the credit services provider's stock valued at $25,000 after acquiring an additional 128 shares during the period. Acadian Asset Management LLC bought a new stake in Federal Agricultural Mortgage during the first quarter valued at approximately $34,000. KBC Group NV bought a new stake in Federal Agricultural Mortgage during the first quarter valued at approximately $35,000. Byrne Asset Management LLC lifted its position in Federal Agricultural Mortgage by 116.1% during the first quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider's stock valued at $45,000 after purchasing an additional 130 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in Federal Agricultural Mortgage during the first quarter valued at approximately $54,000. 68.03% of the stock is currently owned by institutional investors.

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.