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

Keefe, Bruyette & Woods cut 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 Ratings reports. They currently have $215.00 price target on the credit services provider’s stock, up from their previous price target of $212.00.

Federal Agricultural Mortgage Stock Down 3.7 %

Shares of NYSE AGM opened at $198.49 on Monday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.77 and a beta of 1.03. 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 52-week low of $140.44 and a 52-week high of $217.60. The business’s 50 day moving average is $186.07 and its two-hundred day moving average is $185.78.

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

Federal Agricultural Mortgage Dividend Announcement

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

Institutional Trading of Federal Agricultural Mortgage

A number of large investors have recently modified their holdings of AGM. Principal Securities Inc. purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth $34,000. nVerses Capital LLC purchased a new stake in shares of Federal Agricultural Mortgage during the second quarter worth $36,000. Sunbelt Securities Inc. increased its position in shares of Federal Agricultural Mortgage by 194.2% during the first quarter. Sunbelt Securities Inc. now owns 203 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 134 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Federal Agricultural Mortgage by 304.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 263 shares of the credit services provider’s stock worth $50,000 after acquiring an additional 198 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Federal Agricultural Mortgage by 160.5% during the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock worth $94,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 68.03% of the company’s stock.

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.