Federal Agricultural Mortgage Co. (NYSE:AGM) to Issue $1.40 Quarterly Dividend

Federal Agricultural Mortgage Co. (NYSE:AGM) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Monday, December 16th will be paid a dividend of 1.40 per share by the credit services provider on Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Monday, December 16th.

Federal Agricultural Mortgage has increased its dividend by an average of 11.2% annually over the last three years and has increased its dividend every year for the last 13 years. Federal Agricultural Mortgage has a dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Federal Agricultural Mortgage to earn $17.93 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 31.2%.

Federal Agricultural Mortgage Trading Down 0.2 %

AGM stock traded down $0.44 during midday trading on Friday, reaching $208.69. The stock had a trading volume of 1,196 shares, compared to its average volume of 54,010. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.63 and a beta of 1.04. Federal Agricultural Mortgage has a twelve month low of $155.11 and a twelve month high of $217.60. The business has a fifty day simple moving average of $186.75 and a two-hundred day simple moving average of $186.06. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.68.

Federal Agricultural Mortgage (NYSE:AGM) last posted its earnings results on Monday, November 4th. The credit services provider reported $4.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.14 by ($0.04). Federal Agricultural Mortgage had a return on equity of 20.50% and a net margin of 12.59%. The company had revenue of $411.40 million for the quarter, compared to analyst estimates of $92.15 million. During the same quarter in the previous year, the firm posted $4.13 earnings per share. As a group, research analysts expect that Federal Agricultural Mortgage will post 15.95 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Federal Agricultural Mortgage

In other Federal Agricultural Mortgage news, Director Sara Louise Faivre-Davis sold 685 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $184.55, for a total value of $126,416.75. Following the sale, the director now owns 3,225 shares in the company, valued at approximately $595,173.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Stephen P. Mullery sold 2,472 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $182.28, for a total transaction of $450,596.16. Following the sale, the executive vice president now owns 22,045 shares in the company, valued at $4,018,362.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sara Louise Faivre-Davis sold 685 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $184.55, for a total value of $126,416.75. Following the sale, the director now owns 3,225 shares in the company, valued at approximately $595,173.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,967 shares of company stock worth $729,487. 2.21% of the stock is owned by company insiders.

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: 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.