Comerica Bank Lowers Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

Comerica Bank lowered its holdings in shares of Federal Agricultural Mortgage Co. (NYSE:AGMGet Rating) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,955 shares of the credit services provider’s stock after selling 120 shares during the quarter. Comerica Bank’s holdings in Federal Agricultural Mortgage were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AGM. Allspring Global Investments Holdings LLC purchased a new position in Federal Agricultural Mortgage during the fourth quarter worth approximately $311,000. Riverwater Partners LLC purchased a new position in Federal Agricultural Mortgage during the fourth quarter worth approximately $1,236,000. CWM LLC purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter valued at approximately $25,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter valued at approximately $228,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Federal Agricultural Mortgage by 17.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,906 shares of the credit services provider’s stock valued at $980,000 after acquiring an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 65.92% of the company’s stock.

Insider Activity at Federal Agricultural Mortgage

In related news, Director Everett M. Dobrinski bought 1,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average price of $103.30 per share, with a total value of $103,300.00. Following the completion of the transaction, the director now directly owns 5,343 shares of the company’s stock, valued at approximately $551,931.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by insiders.

Federal Agricultural Mortgage Price Performance

NYSE:AGM opened at $110.29 on Monday. Federal Agricultural Mortgage Co. has a one year low of $90.38 and a one year high of $137.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $1.19 billion, a PE ratio of 9.93 and a beta of 0.92. The stock has a 50 day moving average price of $99.53 and a 200 day moving average price of $109.82.

Federal Agricultural Mortgage (NYSE:AGMGet Rating) last posted its quarterly earnings results on Monday, May 9th. The credit services provider reported $2.37 EPS for the quarter. Federal Agricultural Mortgage had a return on equity of 19.69% and a net margin of 31.89%. The firm had revenue of $82.37 million during the quarter.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Tuesday, June 14th. Federal Agricultural Mortgage’s payout ratio is 34.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AGM shares. Sidoti upgraded Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Thursday, May 5th. StockNews.com upgraded Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a research report on Monday, July 25th.

About Federal Agricultural Mortgage

(Get Rating)

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 (United States Department of Agriculture) 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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Institutional Ownership by Quarter for Federal Agricultural Mortgage (NYSE:AGM)

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