Federal Agricultural Mortgage Corp. (NYSE:AGM) declared a quarterly dividend on Monday, May 20th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.70 per share by the credit services provider on Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, June 13th.
Federal Agricultural Mortgage has increased its dividend by an average of 53.6% annually over the last three years and has raised its dividend every year for the last 7 years.
Shares of NYSE AGM traded up $0.53 during midday trading on Wednesday, reaching $71.67. The stock had a trading volume of 31,033 shares, compared to its average volume of 33,499. The company has a market capitalization of $750.53 million, a P/E ratio of 8.97 and a beta of 1.27. Federal Agricultural Mortgage has a twelve month low of $55.64 and a twelve month high of $99.11. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.38 and a current ratio of 0.38.
In other Federal Agricultural Mortgage news, insider Bradford T. Nordholm bought 5,000 shares of the stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $69.67 per share, with a total value of $348,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.46% of the company’s stock.
Separately, Compass Point upgraded shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $83.00 to $86.00 in a research note on Friday, February 22nd.
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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: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments (LTSPC) on designated eligible mortgage loans.
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