M&T Bank Corp decreased its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,552 shares of the credit services provider’s stock after selling 110 shares during the quarter. M&T Bank Corp’s holdings in Federal Agricultural Mortgage were worth $1,253,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Federal Agricultural Mortgage in the third quarter valued at about $31,000. Federated Hermes Inc. increased its position in shares of Federal Agricultural Mortgage by 464.7% during the third quarter. Federated Hermes Inc. now owns 288 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 237 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in 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. Parkside Financial Bank & Trust boosted its position in Federal Agricultural Mortgage by 14.7% in the third quarter. Parkside Financial Bank & Trust now owns 641 shares of the credit services provider’s stock worth $99,000 after purchasing an additional 82 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Federal Agricultural Mortgage in the 3rd quarter valued at $147,000. Institutional investors and hedge funds own 68.03% of the company’s stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $212.00 target price (down from $225.00) on shares of Federal Agricultural Mortgage in a research note on Wednesday.
Check Out Our Latest Report on Federal Agricultural Mortgage
Federal Agricultural Mortgage Price Performance
Shares of NYSE AGM opened at $179.50 on Friday. The stock has a fifty day simple moving average of $187.38 and a two-hundred day simple moving average of $180.05. Federal Agricultural Mortgage Co. has a 1-year low of $122.96 and a 1-year high of $199.40. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 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 EPS for the quarter, topping the consensus estimate of $3.94 by $0.02. Federal Agricultural Mortgage had a net margin of 13.79% and a return on equity of 22.01%. The company had revenue of $403.63 million during the quarter, compared to the consensus estimate of $92.22 million. During the same period last year, the firm earned $3.56 EPS. Analysts anticipate that Federal Agricultural Mortgage Co. will post 16.66 earnings per share for the current year.
Federal Agricultural Mortgage Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.40 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.60 annualized dividend and a yield of 3.12%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s payout ratio is currently 34.15%.
Federal Agricultural Mortgage 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.
Further Reading
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