Federal Agricultural Mortgage Corporation (NYSE:AGM – Get Free Report ) has seen a significant increase in short interest in the month of June. As of June 30, short interest totaled 129,700 shares, up 29.6% from a total of 100,100 shares on June 15. Based on an average trading volume of 47,500 shares, the short interest ratio is currently at 2.7 days. Approximately 1.4% of the company's shares are sold short.
Institutional investors step in to federal farm mortgages
Several large investors recently modified their holdings in the stock. American Century Companies increased its holdings in Federal Agricultural Mortgage by 15.0% in the third quarter. American Century Companies now owns 77,709 shares of the credit services provider's stock valued at $11,990,000 after acquiring an additional 10,133 shares in the last quarter. Raymond James Trust NA purchased approximately $217,000 of new shares in Federal Agricultural Mortgage in the fourth quarter. International Asset Investment Management LLC purchased approximately $18,283,000 of new shares in Federal Agricultural Mortgage in the fourth quarter. Allspring Global Investments Holdings LLC increased its holdings in Federal Agricultural Mortgage by 943.6% in the fourth quarter. Allspring Global Investments Holdings LLC now holds 28,355 shares of the credit services provider's stock valued at $5,422,000 after acquiring an additional 25,638 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Federal Agricultural Mortgage during the fourth quarter valued at about $283,000. 68.03% of the stock is now owned by institutional investors.
Analyst Rating Changes
Meanwhile, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Federal Agricultural Mortgage Securities and issued a $212.00 target price (previously $225.00) in a report on Wednesday, May 8th.
View our latest analysis for AGM
Federal farm mortgage transactions increased 2.2%
AGM shares opened trading at $204.36 on Tuesday. Federal Agricultural Mortgage Securities' one-year low is $140.44 and its one-year high is $205.39. The company's market cap is $2.22 billion, its P/E ratio is 12.46, its P/G ratio is 1.71 and its beta is 1.03. The company's 50-day moving average is $178.59 and its 200-day moving average is $183.63. The company's current ratio is 0.46, quick ratio is 0.46 and debt-to-equity ratio is 1.38.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report ) last released its quarterly earnings data on Monday, May 6th. The credit services provider reported $3.96 earnings per share for the quarter, beating the consensus estimate 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's revenue for the quarter was $403.63 million, beating analyst expectations of $92.22 million. During the same period last year, the company posted earnings per share of $3.56. Equity analysts expect Federal Agricultural Mortgage to post earnings per share of $16.67 for the current fiscal year.
Federal Farm Mortgage Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $1.40 dividend. The ex-dividend date was Friday, June 14th. This equates to an annualized dividend of $5.60, or a dividend yield of 2.74%. Federal Agricultural Mortgage's dividend payout ratio is currently 34.15%.
About Federal Agricultural Mortgages
(Get your free report)
The Federal Agricultural Mortgage Corporation provides a secondary market for a variety of loans to borrowers in the United States. The company operates through four segments: Corporate Agricultural Finance, Farm and Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance business segment purchases and holds conforming loans and securities, guarantees principal and interest payments on securities representing interest or debt secured by pools of conforming loans, services conforming loans, and issues LTSPCs for conforming loans.
References
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