Federal Agricultural Mortgage Co. (NYSE:AGM) Brief Interest Update
Federal Agricultural Mortgage Co. (NYSE:AGM – Get Rating) was the target of strong short-term interest growth in September. As of September 30, there was short interest totaling 135,500 shares, a growth of 13.7% from the total of 119,200 shares as of September 15. About 1.5% of the stock’s shares are sold short. Based on an average daily trading volume of 28,400 shares, the day-to-cover ratio is currently 4.8 days.
Hedge Funds Weigh on Federal Farm Mortgage
A number of institutional investors have recently changed their positions within the AGM. Lazard Asset Management LLC bought a new position in Federal Agricultural Mortgage in the second quarter worth $26,000. Mascoma Wealth Management LLC bought a new position in Federal Agricultural Mortgage stock during Q1, valued at around $37,000. Mystic Asset Management Inc. acquired a new stake in Federal Agricultural Mortgage in Q4 for a value of approximately $42,000. Asset Dedication LLC bought a new stake in Federal Agricultural Mortgage in the first quarter for about $53,000. Finally, Captrust Financial Advisors increased its position in Federal Agricultural Mortgage by 22.9% during the second quarter. Captrust Financial Advisors now owns 913 shares of the credit service provider valued at $89,000 after acquiring an additional 170 shares in the last quarter. Institutional investors hold 66.73% of the company’s shares.
Analyst upgrades and downgrades
Separately, StockNews.com began covering Federal Agricultural Mortgage stocks in a report on Wednesday, October 12. They issued a “buy” rating on the stock.
Federal Agricultural Mortgage Price Performance
Shares of Federal Agricultural Mortgage rose $0.26 during Tuesday’s trading, hitting $107.58. The stock had a trading volume of 26,743 shares, compared to an average volume of 30,498. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt ratio of 1.25. . Federal Agricultural Mortgage has a 12 month minimum of $90.38 and a 12 month maximum of $137.01. The company has a market capitalization of $1.16 billion, a price-earnings ratio of 8.68 and a beta of 0.95. The company’s 50-day moving average is $107.68 and its 200-day moving average is $104.35.
Federal Agricultural Mortgage (NYSE:AGM – Get Rating) last reported results on Monday, August 8. The credit service provider reported earnings per share of $2.83 for the quarter. The company had revenue of $76.70 million for the quarter. Federal Agricultural Mortgage had a return on equity of 19.71% and a net margin of 31.96%.
Federal Farm Mortgage Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 30. Shareholders of record on Thursday, September 15 received a dividend of $0.95 per share. The ex-dividend date was Wednesday, September 14. This represents an annualized dividend of $3.80 and a yield of 3.53%. The Federal Agricultural Mortgage payout rate is currently 30.74%.
About the Federal Farm Mortgage
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The Federal Agricultural Mortgage Corporation provides a secondary market for various loans issued to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA (United States Department of Agriculture) Guarantees, Rural Utilities and Institutional Credit. The Farm & Ranch segment purchases and maintains qualifying mortgage loans that are secured by first liens on agricultural real estate; securitizes qualifying mortgages and guarantees the timely payment of principal and interest on interest-bearing securities or obligations secured by pools of mortgages; and issues Long-Term Support Purchase Commitments (LTSPCs) on designated eligible mortgages.
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