Farmer Mac Reports Third Quarter Financial Results
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Compass Point Reiterates Buy on Fed Agricult. Mortg. (AGM) Following 3Q EPS Beat
November 11, 2015 10:09 AM ESTCompass Point reiterated a Buy rating and $39.00 price target on Federal Agricultural Mortgage Corp (NYSE: AGM) following the company's 3Q earnings report. AGM reported EPS of $1.17, beating the Street's $1.05 estimate. AGM benefited from higher net effective spread income and a reserve release during the quarter. AGM continues to benefit from steady net business volume growth helped by lower prepayments, which has helped to offset pressure on asset yields.
Analyst Jesus Bueno commented, "We reiterate our Buy rating and maintain our $39 price target following the 3Q15 earnings release. Core earnings,... More
