Federal Agricultural Mortgage (NYSE:AGM) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods lowered shares of Federal Agricultural Mortgage (NYSE:AGM) from an outperform rating to a market perform rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has $215.00 price target on the credit services provider’s stock, up from their prior price target of $212.00.

Federal Agricultural Mortgage Price Performance

Shares of NYSE:AGM opened at $198.49 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.38. Federal Agricultural Mortgage has a twelve month low of $140.44 and a twelve month high of $217.60. The stock’s 50 day moving average is $186.07 and its 200-day moving average is $185.78. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.77 and a beta of 1.03.

Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.94 by $0.02. Federal Agricultural Mortgage had a return on equity of 22.01% and a net margin of 13.79%. The company had revenue of $403.63 million for the quarter, compared to analyst estimates of $92.22 million. During the same period in the prior year, the firm earned $3.56 earnings per share. Sell-side analysts forecast that Federal Agricultural Mortgage will post 16.67 EPS for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, June 14th. Federal Agricultural Mortgage’s payout ratio is currently 34.15%.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in Federal Agricultural Mortgage in the 4th quarter valued at $18,283,000. Quadrature Capital Ltd raised its position in Federal Agricultural Mortgage by 49.6% in the 4th quarter. Quadrature Capital Ltd now owns 13,950 shares of the credit services provider’s stock valued at $2,669,000 after buying an additional 4,628 shares during the last quarter. Victory Capital Management Inc. raised its position in Federal Agricultural Mortgage by 111.3% in the 4th quarter. Victory Capital Management Inc. now owns 8,752 shares of the credit services provider’s stock valued at $1,674,000 after buying an additional 4,611 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Federal Agricultural Mortgage in the 1st quarter valued at $2,141,000. Finally, AdvisorShares Investments LLC purchased a new stake in Federal Agricultural Mortgage in the 4th quarter valued at $3,414,000. 68.03% of the stock is owned by hedge funds and other institutional investors.

About Federal Agricultural Mortgage

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.