Federal Agricultural Mortgage (NYSE:AGM) Posts Earnings Results, Beats Expectations By $0.19 EPS

Federal Agricultural Mortgage (NYSE:AGM) released its quarterly earnings results on Friday. The credit services provider reported $4.19 EPS for the quarter, beating the consensus estimate of $4.00 by $0.19, Zacks reports. The firm had revenue of $96.79 million for the quarter, compared to analyst estimates of $94.33 million. Federal Agricultural Mortgage had a net margin of 12.75% and a return on equity of 19.43%.

Federal Agricultural Mortgage Stock Performance

Shares of AGM stock opened at $185.74 on Friday. Federal Agricultural Mortgage has a one year low of $159.64 and a one year high of $217.60. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.49 and a current ratio of 0.49. The firm’s 50 day moving average price is $182.16 and its 200-day moving average price is $194.03. The firm has a market cap of $2.02 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.69 and a beta of 0.97.

Federal Agricultural Mortgage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Federal Agricultural Mortgage’s payout ratio is 36.47%.

Insiders Place Their Bets

In other news, Director Robert G. Sexton bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $195.62 per share, with a total value of $195,620.00. Following the purchase, the director now owns 13,517 shares in the company, valued at approximately $2,644,195.54. The trade was a 7.99 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell A. Johnson sold 2,500 shares of Federal Agricultural Mortgage stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $205.21, for a total value of $513,025.00. Following the completion of the transaction, the director now directly owns 8,644 shares of the company’s stock, valued at approximately $1,773,835.24. This represents a 22.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on Federal Agricultural Mortgage from $205.00 to $230.00 and gave the company a “market perform” rating in a research report on Monday, February 24th.

Federal Agricultural Mortgage Company Profile

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.