Post-Earnings Insights and Pulse -American Capital Agency
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LONDON, August 1, 2014 /PRNewswire/ --
Investor-Edge.com has issued complimentary post-earnings insights and pulse coverage on American Capital Agency Corporation (NASDAQ: AGNC). The company was featured in the headlines on Monday, July 28, 2014, for showing significant growth in comprehensive income and net spread and dollar roll income per common share, during the second quarter of 2014. Our free coverage report can be accessed at:
http://www.investor-edge.com/register
Earnings Overview
During the second quarter of 2014, American Capital Agency Corp. reported comprehensive income of $862 million, or $2.43 per common share, and economic return of $2.42 per common share. The comprehensive income included $0.08 net income per common share and other comprehensive income (OCI) of $2.35 per common share, including net unrealized gains on investments marked-to-market through OCI. Net book value per common share stood at $26.26, compared with $24.49 reported on March 31, 2014 and $25.51 on June 30, 2013. The free research on AGNC can be downloaded as in PDF format at:
http://www.Investor-Edge.com/AGNCFreeReport
Gary Kain, President and Chief Investment Officer at American Capital Agency Corp., said that the company reported strong second quarterly performance in contrast to the overriding consensus that the Treasury and agency MBS markets will face significant headwinds as Fed's tapering progressed.Gary Kain also said that the company witnessed one of its best quarter since the end of 2009 with economic return for the quarter of approximately 10%, or almost 40% on an annualized basis. He further stated that some important strategic decisions bolstered the second quarter results, most important of which was to maintain leverage. In addition, the Company's decision to operate with a larger duration gap and to reducethe size of its swaption portfolio also contributed to the performance.
The Bethesda, Maryland-based company's quarterly net interest income stood at $290 million, below the $414 million in the year-ago quarter and Bloomberg estimate of $358 million. Net spread and dollar roll income, excluding "catch-up" premium amortization, stood at $0.87 per common share, compared to $0.71 per common share in the first quarter of 2014. The company's net income per common share of $0.08 was much below $4.61 per share reported in the year-ago quarter and Bloomberg analyst's estimate of $0.64 per share. During the quarter, American Capital Agency Corp. declared a dividend of $0.65 dividend per common share,which reflects an 11.1% annualized dividend yield based on June 30, 2014 closing stock price of $23.41 per common share. Sign up and read the free analyst's notes on AGNC at:
http://www.Investor-Edge.com/AGNC-01082014
Stock Performance
On Tuesday, July 29, 2014, a day after the earnings release, American Capital Agency Corp.'s shares fell 0.89% to close the session at $23.48. After dropping another 2.34% on July 31, 2014, the company's shares advanced 0.83% on Thursday, August 1, 2014, to end the day at $23.12. A total of 5.76 million shares were traded, which was above its three months average volume of 3.56 million shares. American Capital Agency Corp.'s shares have fallen by 2.41% in the previous three trading sessions and 1.24% in the last one month. However, the stock has gained 19.85% on YTD basis. The company's shares are trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $23.40 is greater than its 200-day moving average of $22.01. The stock has a Relative Strength Index (RSI) of 40.75. Visit Investor-Edge and access the latest research on AGNC at:
http://www.Investor-Edge.com/AGNCEarningsCoverage
Sneak Peek to Corporate Insider Trading
In the last one month, American Capital Agency Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on AGNC is available at:
http://www.Investor-Edge.com/AGNCInsiderTrading
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