Sunbelt Securities increased its holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM – free report ) by 194.2% during the first quarter, according to the latest 13F filing filed with the Securities and Exchange Commission. The institutional investor acquired an additional 134 shares during the period, giving it a holding of 203 shares of the credit services provider's stock. Sunbelt Securities' holdings in Federal Agricultural Mortgage Corporation were worth $40,000 at the end of the most recent quarter.
A number of other hedge funds and institutional investors also recently bought and sold shares of AGM. Kingswood Wealth Advisors LLC acquired a new position in shares of Federal Agricultural Mortgage in the first quarter valued at approximately $208,000. Napatree Capital LLC acquired a new position in shares of Federal Agricultural Mortgage in the fourth quarter valued at approximately $255,000. Quadrature Capital Ltd increased its stake in Federal Agricultural Mortgage by 49.6% in the fourth quarter. Quadrature Capital Ltd now owns 13,950 shares of the credit services provider's stock valued at $2,669,000 after purchasing an additional 4,628 shares during the period. AdvisorShares Investments LLC acquired a new position in shares of Federal Agricultural Mortgage in the fourth quarter valued at $3,414,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth $497,000.68.03% of the stock is now owned by hedge funds and other institutional investors.
Federal farm mortgage transactions increased 1.4%
NYSE:AGM opened trading at $180.82 on Monday. Federal Agricultural Mortgage Corporation has a low of $137.16 and a high of $199.40 over the past year. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.03, a price-to-earnings ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.46 and a current ratio of 0.46. The stock's 50-day simple moving average is $179.12 and its 200-day simple moving average is $183.59.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report ) announced its quarterly earnings on Monday, May 6th. The credit services provider reported quarterly earnings per share (EPS) of $3.96, beating analysts' consensus estimates of $3.94 by $0.02. The company's revenue for the quarter was $403.63 million, beating the consensus estimate of $92.22 million. Federal Agricultural Mortgage had return on equity of 22.01% and net margin of 13.79%. During the same period last year, the company posted earnings per share of $3.56. Analysts expect Federal Agricultural Mortgage to post earnings per share of $16.67 for the current fiscal year.
Federal Farm Mortgage Corporation announces dividend
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 dividend of $1.40. The ex-dividend date for this dividend was Friday, June 14th. On an annualized basis, this equates to a dividend of $5.60 and a yield of 3.10%. Federal Agricultural Mortgage's dividend payout ratio (DPR) is currently 34.15%.
Wall Street analysts predict growth
Meanwhile, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Federal Agricultural Mortgage Corporation and lowered their price objective on the stock from $225.00 to $212.00 in a research note on Wednesday, May 8th.
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About Federal Agricultural Mortgages
(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.
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