Federal Agricultural Mortgage Co. (NYSE:AGM) Sees Large Growth in Short Interest

Federal Agricultural Mortgage Co. (NYSE:AGM) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 165,500 shares, an increase of 7.7% from the July 15th total of 153,700 shares. Based on an average daily trading volume, of 53,700 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.8% of the company’s shares are short sold.

Federal Agricultural Mortgage Trading Up 2.0 %

Shares of AGM traded up $3.63 during trading hours on Monday, hitting $187.55. 28,490 shares of the stock were exchanged, compared to its average volume of 58,118. Federal Agricultural Mortgage has a fifty-two week low of $140.44 and a fifty-two week high of $217.60. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.46 and a quick ratio of 0.46. The business has a 50-day moving average of $187.99 and a 200-day moving average of $185.52. The firm has a market capitalization of $2.04 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings results on Monday, August 5th. The credit services provider reported $3.63 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.46). The company had revenue of $406.23 million during the quarter, compared to analyst estimates of $91.77 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 business posted $3.86 earnings per share. On average, research analysts expect that Federal Agricultural Mortgage will post 16.67 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, September 16th. Federal Agricultural Mortgage’s payout ratio is 34.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $215.00 price objective on shares of Federal Agricultural Mortgage in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On Federal Agricultural Mortgage

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Federal Agricultural Mortgage during the fourth quarter valued at about $18,283,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Federal Agricultural Mortgage by 943.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 28,355 shares of the credit services provider’s stock valued at $5,422,000 after buying an additional 25,638 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Federal Agricultural Mortgage during the fourth quarter valued at about $283,000. Federated Hermes Inc. lifted its position in shares of Federal Agricultural Mortgage by 762.8% during the fourth quarter. Federated Hermes Inc. now owns 2,485 shares of the credit services provider’s stock valued at $475,000 after purchasing an additional 2,197 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Federal Agricultural Mortgage by 9.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 702 shares of the credit services provider’s stock valued at $134,000 after purchasing an additional 61 shares in the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.

About Federal Agricultural Mortgage

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.