Federal Agricultural Mortgage (NYSE:AGM) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• AGM shares crossed above their 200-day moving average, reaching $218.97 and last trading near $216.92, compared with a 200-day average of $190.52.
• Analysts have a consensus “Buy” rating and a $255 price target; Keefe, Bruyette & Woods raised its target to $255 and Zacks Research upgraded the stock to “strong buy.”
• Federal Agricultural Mortgage exceeded quarterly earnings and revenue estimates, reporting $5.40 EPS and $125.01 million in revenue, while declaring a quarterly dividend of $1.60, equivalent to a 3.0% annual yield.

Federal Agricultural Mortgage Corporation (NYSE:AGM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $190.52 and traded as high as $218.97. Federal Agricultural Mortgage shares last traded at $216.9240, with a volume of 83,930 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AGM shares. Weiss Ratings upgraded Federal Agricultural Mortgage from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods lifted their target price on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Finally, Zacks Research raised Federal Agricultural Mortgage from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Federal Agricultural Mortgage currently has an average rating of "Buy" and a consensus target price of $255.00.

Federal Agricultural Mortgage Stock Down 0.9%

The firm has a market cap of $2.35 billion, a PE ratio of 11.85, a P/E/G ratio of 0.81 and a beta of 0.97. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day moving average price of $222.84 and a two-hundred day moving average price of $190.52.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.53. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%.The firm had revenue of $125.01 million during the quarter, compared to the consensus estimate of $113.51 million. On average, analysts anticipate that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Federal Agricultural Mortgage's dividend payout ratio is 34.95%.

Institutional Trading of Federal Agricultural Mortgage

Several institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its position in Federal Agricultural Mortgage by 9.9% during the second quarter. Sequoia Financial Advisors LLC now owns 13,028 shares of the credit services provider's stock valued at $2,596,000 after purchasing an additional 1,175 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Federal Agricultural Mortgage in the 2nd quarter worth approximately $93,000. Nykredit A S acquired a new stake in shares of Federal Agricultural Mortgage during the 2nd quarter valued at $50,000. VELA Investment Management LLC boosted its stake in shares of Federal Agricultural Mortgage by 6.1% during the 2nd quarter. VELA Investment Management LLC now owns 16,648 shares of the credit services provider's stock valued at $3,317,000 after buying an additional 952 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Federal Agricultural Mortgage during the 2nd quarter valued at $239,000. 68.03% of the stock is currently owned by institutional investors and hedge funds.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a federally chartered corporation that provides a secondary market for agricultural and rural infrastructure loans. Its activities help agricultural lenders obtain funding and liquidity, supporting the availability of credit for farmers, ranchers, rural homeowners and rural businesses across the United States.

Farmer Mac purchases eligible loans and provides loan guarantees, securitization and other financing solutions through its business segments.

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