Short Interest in Federal Agricultural Mortgage Co. (NYSE:AGM) Declines By 10.8%

Federal Agricultural Mortgage Co. (NYSE:AGMGet Free Report) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 113,100 shares, a drop of 10.8% from the May 15th total of 126,800 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 51,400 shares, the days-to-cover ratio is presently 2.2 days.

Federal Agricultural Mortgage Stock Performance

AGM stock traded up $0.66 during midday trading on Tuesday, reaching $174.73. The company had a trading volume of 44,534 shares, compared to its average volume of 57,679. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.38. The stock has a 50 day moving average price of $179.86 and a 200 day moving average price of $183.29. Federal Agricultural Mortgage has a fifty-two week low of $137.16 and a fifty-two week high of $199.40. The firm has a market capitalization of $1.90 billion, a PE ratio of 10.65, a P/E/G ratio of 1.45 and a beta of 1.03.

Federal Agricultural Mortgage (NYSE:AGMGet Free Report) last released its quarterly earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share 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 analysts’ expectations 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 posted $3.56 earnings per share. Analysts anticipate that Federal Agricultural Mortgage will post 16.67 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 3.20%. Federal Agricultural Mortgage’s payout ratio is 34.15%.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in Federal Agricultural Mortgage by 8.1% during the first quarter. Boston Partners now owns 486,964 shares of the credit services provider’s stock worth $95,435,000 after purchasing an additional 36,560 shares in the last quarter. Captrust Financial Advisors acquired a new position in Federal Agricultural Mortgage in the first quarter worth approximately $24,137,000. International Assets Investment Management LLC acquired a new position in Federal Agricultural Mortgage in the fourth quarter worth approximately $18,283,000. American Century Companies Inc. grew its position in Federal Agricultural Mortgage by 15.0% in the third quarter. American Century Companies Inc. now owns 77,709 shares of the credit services provider’s stock worth $11,990,000 after buying an additional 10,133 shares during the last quarter. Finally, Raymond James & Associates grew its position in Federal Agricultural Mortgage by 0.5% in the first quarter. Raymond James & Associates now owns 62,234 shares of the credit services provider’s stock worth $12,253,000 after buying an additional 319 shares during the last quarter. Institutional investors own 68.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $212.00 target price (down from $225.00) on shares of Federal Agricultural Mortgage in a research note on Wednesday, May 8th.

Check Out Our Latest Research Report on Federal Agricultural Mortgage

About Federal Agricultural Mortgage

(Get Free Report)

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.

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