Federal Agricultural Mortgage (NYSE:AGM) Releases Quarterly Earnings Results

Federal Agricultural Mortgage (NYSE:AGM) released its quarterly earnings results on Tuesday. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.30, FiscalAI reports. Federal Agricultural Mortgage had a net margin of 15.73% and a return on equity of 17.93%. The company had revenue of $109.13 million for the quarter, compared to analysts’ expectations of $110.76 million.

Here are the key takeaways from Federal Agricultural Mortgage’s conference call:

• Record quarter — outstanding business volume of about $34.8 billion, revenue of ~$110 million, and core earnings of ~$52 million, reflecting continued acceleration from late‑2025.
• Broad, diversified growth with $1.5 billion of net new volume in Q1; notable contributors included Farm & Ranch loan purchases (+$384M), Infrastructure (+$717M to $12.6B), Renewable Energy (+$445M, +18%), and Broadband (+$158M).
• Strengthened balance sheet and funding execution — core capital rose $27M to $1.7B (62% excess of statutory requirements), Tier 1 ratio at 13%, record net effective spread dollars ($102M), and callable debt actions expected to add roughly $3M of annualized spread.
• Credit metrics showed some deterioration — a $4.3M provision for credit losses in Q1, allowance increased to $40.1M, 90‑day delinquencies rose to 52 bps, and substandard assets ticked up to 1.87%, concentrated in select ag and Corporate AgFinance exposures.
• Management highlighted macro risks that could pressure results, including higher fuel/fertilizer costs, trade and geopolitical volatility that may squeeze producer margins or increase liquidity needs, and the eventual phase‑out of certain renewable tax incentives (though demand for energy-related financing is expected to persist).

Federal Agricultural Mortgage Stock Up 5.5%

Shares of AGM traded up $9.42 during mid-day trading on Wednesday, reaching $180.70. 75,753 shares of the stock traded hands, compared to its average volume of 115,674. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.80 and a beta of 1.02. The stock has a fifty day simple moving average of $157.83 and a 200 day simple moving average of $166.26. Federal Agricultural Mortgage has a 12-month low of $136.57 and a 12-month high of $210.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.00.

Federal Agricultural Mortgage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $1.60 per share. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.50. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, March 16th. Federal Agricultural Mortgage’s payout ratio is 38.46%.

Institutional Trading of Federal Agricultural Mortgage

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Federal Agricultural Mortgage by 4.7% during the fourth quarter. Invesco Ltd. now owns 15,351 shares of the credit services provider’s stock valued at $2,695,000 after purchasing an additional 684 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter valued at approximately $301,000. Wellington Management Group LLP increased its stake in shares of Federal Agricultural Mortgage by 44.5% in the fourth quarter. Wellington Management Group LLP now owns 262,931 shares of the credit services provider’s stock worth $46,163,000 after buying an additional 80,911 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Federal Agricultural Mortgage in the fourth quarter worth $2,305,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of Federal Agricultural Mortgage by 1.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 71,174 shares of the credit services provider’s stock worth $12,496,000 after buying an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Analyst Ratings Changes

AGM has been the topic of several analyst reports. Wall Street Zen cut shares of Federal Agricultural Mortgage from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Keefe, Bruyette & Woods decreased their price target on shares of Federal Agricultural Mortgage from $219.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.

The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.