Last $35.51 USD
Change Today -0.04 / -0.11%
Volume 21.8K
AGM On Other Exchanges
Symbol
Exchange
New York
New York
As of 6:40 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

federal agric mtg corp-cl c (AGM) Snapshot

Open
$35.38
Previous Close
$35.55
Day High
$35.56
Day Low
$35.17
52 Week High
10/28/13 - $36.77
52 Week Low
06/24/13 - $26.38
Market Cap
376.5M
Average Volume 10 Days
37.0K
EPS TTM
$6.94
Shares Outstanding
9.4M
EX-Date
03/13/14
P/E TM
5.1x
Dividend
$0.56
Dividend Yield
1.41%
Current Stock Chart for FEDERAL AGRIC MTG CORP-CL C (AGM)

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federal agric mtg corp-cl c (AGM) Details

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. The company operates in three segments: Farm & Ranch, USDA Guarantees, and Rural Utilities. The Farm & Ranch segment is engaged in purchasing and retaining eligible mortgage loans that are secured by first liens on agricultural real estate; providing advances against eligible mortgage loans by purchasing obligations secured by those loans; securitizing eligible mortgage loans, and guaranteeing the timely payment of principal and interest on securities representing interests in or obligations secured by pools of eligible mortgage loans; and providing long-term standby purchase commitments to acquire designated eligible mortgage loans. The USDA Guarantees segment is involved in purchasing portions of certain agricultural, rural development, business and industry, and community facilities loans guaranteed by the United States Department of Agriculture. The Rural Utilities segment purchases and guarantees securities that are backed by eligible rural utilities loans. Federal Agricultural Mortgage Corporation was founded in 1987 and is based in Washington, District of Columbia.

67 Employees
Last Reported Date: 03/13/14
Founded in 1987

federal agric mtg corp-cl c (AGM) Top Compensated Officers

Chief Executive Officer, President and Member...
Total Annual Compensation: $396.6K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $406.9K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $264.1K
Advisor and Member of Proxy Committee
Total Annual Compensation: $312.9K
Compensation as of Fiscal Year 2012.

federal agric mtg corp-cl c (AGM) Key Developments

Farmer Mac Declares Dividend on Series B Preferred Stock Payable on April 17, 2014

The Federal Agricultural Mortgage Corporation announced that it has declared a dividend on Farmer Mac's 6.875% Non-Cumulative Preferred Stock, Series B. The dividend of $0.105 per share of Series B Non-Cumulative Preferred Stock is for the period from but not including March 25, 2014 (the date of issuance of the Series B Non-Cumulative Preferred Stock) to and including April 17, 2014, and shall be payable on April 17, 2014 to holders of record of the Series B Non-Cumulative Preferred Stock as of April 7, 2014. Each share of Series B Non-Cumulative Preferred Stock has a par value and liquidation preference of $25.00 per share.

Federal Agricultural Mortgage Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Federal Agricultural Mortgage Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net interest income was $13,403,000 against $22,793,000 a year ago. Income before income taxes $22,687,000 against $20,704,000 a year ago. Net income attributable to common stockholders was $12,485,000 or $1.11 diluted per share against $9,601,000 or $0.87 diluted per share a year ago. Core earnings were $15,282,000 or $1.36 per diluted share as compared to $11,603,000 or $1.05 per diluted share for the same period prior year. This increase was primarily attributable to a $1.5 million ($1.0 million after tax) reduction in operating expenses, a $1.1 million ($0.7 million after tax) increase in net effective spread and guarantee fees, as well as a reduction in net credit expenses due to continued strong credit quality. Total revenue was $34,701,000 compared to $33,617,000 a year ago. During fourth quarter 2013, core earnings increased $3.7 million to $15.3 million, from $11.6 million in fourth quarter 2012. For the year, the company reported net interest income was $98,122,000 against $121,980,000 a year ago. Income before income taxes $131,267,000 against $91,116,000 a year ago. Net income attributable to common stockholders was $71,833,000 or $6.41 diluted per share against $43,894,000 or $3.98 diluted per share a year ago. The same factors that contributed to growth in core earnings contributed to both the annual and quarter-over-quarter growth in GAAP net income. Core earnings were $54,892,000 or $4.90 per diluted share as compared to $49,642,000 or $4.51 per diluted share for the same period prior year. Total revenue was $136,594,000 compared to $133,680,000 a year ago.

Federal Agricultural Mortgage Corp., Q4 2013 Earnings Call, Mar 14, 2014

Federal Agricultural Mortgage Corp., Q4 2013 Earnings Call, Mar 14, 2014

 

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Industry Analysis

AGM

Industry Average

Valuation AGM Industry Range
Price/Earnings 5.5x
Price/Sales 2.8x
Price/Book 1.4x
Price/Cash Flow 4.4x
TEV/Sales NM Not Meaningful
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