Federal Agricultural Mortgage Co. (NYSE:AGM – Get Rating) benefited from significant growth in short-term interest during the month of May. As of May 15, there was short interest totaling 145,300 shares, up 26.3% from the total of 115,000 shares as of April 30. Based on an average daily volume of 34,600 shares, the day-to-cover ratio is currently 4.2 days. Currently, 1.6% of the company’s shares are sold short.
The AGA has been the subject of several reports by research analysts. Sidoti upgraded Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a target price of $138.00 on the stock in a Thursday, May 5 research note. StockNews.com launched coverage on the Federal Farm Mortgage in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, TheStreet downgraded Federal Agricultural Mortgage from a “b-” rating to a “c” rating in a Friday, Feb. 11 research note.
In other Federal Agricultural Mortgage news, Executive Vice President Zachary Carpenter sold 714 shares of the company in a trade that took place Friday, March 11. The stock was sold at an average price of $123.79, for a total value of $88,386.06. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Everett M. Dobrinski acquired 1,000 shares in a trade on Wednesday, May 11. The stock was purchased at an average price of $103.30 per share, with a total value of $103,300.00. As a result of the transaction, the administrator now directly owns 5,343 shares of the company, valued at approximately $551,931.90. Disclosure of this purchase can be found here. Insiders own 1.83% of the shares of the company.
Hedge funds have recently changed their stock holdings. Deutsche Bank AG increased its stake in shares of Federal Agricultural Mortgage by 1.1% in the fourth quarter. Deutsche Bank AG now owns 7,711 shares of the credit services provider worth $956,000 after acquiring 82 more shares in the last quarter. UBS Asset Management Americas Inc. increased its holding in shares of Federal Agricultural Mortgage by 1.2% in the third quarter. UBS Asset Management Americas Inc. now owns 7,450 shares of the credit services provider worth $808,000 after acquiring 86 additional shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Federal Agricultural Mortgage by 4.2% in the third quarter. Personal CFO Solutions LLC now owns 2,262 shares of the credit service provider worth $245,000 after acquiring 92 additional shares in the last quarter. Teacher Retirement System of Texas increased its stake in Federal Agricultural Mortgage shares by 6.4% in the first quarter. Teacher Retirement System of Texas now owns 1,915 shares of the credit service provider worth $208,000 after acquiring 115 additional shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Federal Agricultural Mortgage shares by 1.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,024 shares of the credit services provider worth $870,000 after acquiring 118 additional shares in the last quarter. 65.92% of the shares are currently held by institutional investors.
AGM stock traded at $1.26 at midday Tuesday, hitting $105.01. The stock recorded trading volume of 50,229 shares, compared to an average trading volume of 31,125 shares. The company has a market capitalization of $1.13 billion, a price-earnings ratio of 9.34 and a beta of 0.93. The company has a 50-day moving average of $106.78 and a two-hundred-day moving average of $117.60. The Federal Farm Mortgage has a 52-week minimum of $94.20 and a 52-week maximum of $137.01. The company has a debt ratio of 1.32, a current ratio of 0.44 and a quick ratio of 0.44.
Federal Agricultural Mortgage (NYSE:AGM – Get Rating) released its quarterly results for the last time on Monday, May 9. The credit service provider reported earnings per share of $2.37 for the quarter. The company had revenue of $82.37 million for the quarter. Federal Agricultural Mortgage had a return on equity of 19.69% and a net margin of 31.89%.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 15 will receive a dividend of $0.95. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $3.80 and a yield of 3.62%. The Federal Agricultural Mortgage payout rate is 34.20%.
About the Federal Farm Mortgage (Get an evaluation)
The Federal Agricultural Mortgage Corporation provides a secondary market for various loans issued to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA (United States Department of Agriculture) Guarantees, Rural Utilities and Institutional Credit. The Farm & Ranch segment purchases and maintains qualifying mortgage loans that are secured by first lien on agricultural real estate; securitizes qualifying mortgages and guarantees the timely payment of principal and interest on interest-bearing securities or obligations secured by pools of mortgages; and issues Long-Term Support Purchase Commitments (LTSPCs) on designated eligible mortgages.
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