Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) - Investment analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for Federal Agricultural Mortgage in a research report issued to clients and investors on Tuesday, May 7th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will post earnings per share of $16.65 for the year, down from their prior estimate of $17.00. The consensus estimate for Federal Agricultural Mortgage's current full-year earnings is $17.00 per share.
Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.94 by $0.02. Federal Agricultural Mortgage had a net margin of 14.13% and a return on equity of 22.68%. The business had revenue of $403.63 million for the quarter, compared to analysts' expectations of $92.22 million. During the same quarter last year, the company posted $3.56 EPS.
Separately, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $212.00 price objective (down from $225.00) on shares of Federal Agricultural Mortgage in a research note on Wednesday.
Read Our Latest Report on AGM
Federal Agricultural Mortgage Stock Performance
NYSE:AGM traded down $0.70 during mid-day trading on Thursday, hitting $178.31. 38,164 shares of the company traded hands, compared to its average volume of 63,266. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.51. The stock's fifty day moving average price is $187.42 and its 200-day moving average price is $179.55. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 10.87 and a beta of 1.08. Federal Agricultural Mortgage has a one year low of $122.96 and a one year high of $199.40.
Federal Agricultural Mortgage Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.60 annualized dividend and a yield of 3.14%. This is an increase from Federal Agricultural Mortgage's previous quarterly dividend of $1.10. Federal Agricultural Mortgage's dividend payout ratio is currently 34.15%.
Institutional Investors Weigh In On Federal Agricultural Mortgage
A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth about $18,283,000. Allspring Global Investments Holdings LLC raised its position in shares of Federal Agricultural Mortgage by 943.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider's stock valued at $5,422,000 after buying an additional 25,638 shares during the last quarter. Ballast Asset Management LP purchased a new position in shares of Federal Agricultural Mortgage in the third quarter worth $3,575,000. AdvisorShares Investments LLC bought a new position in shares of Federal Agricultural Mortgage during the fourth quarter worth $3,414,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Federal Agricultural Mortgage by 4,095.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 15,271 shares of the credit services provider's stock valued at $2,356,000 after acquiring an additional 14,907 shares in the last quarter. Hedge funds and other institutional investors own 68.03% of the company's stock.
About Federal Agricultural Mortgage
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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.
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