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/AGM
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Federal Agricultural Mortgage Corp

Federal Agricultural Mortgage Corp

AGM
$225.51USD↑+0.41%+0.91 today

MARKET CAP

2.4B

P/E (TTM)

13.6x

FWD P/E

—

DAY RANGE

$225 – $230

52W RANGE

$137
$248

AI Summary

Stalk
StalkMedium

AGM remains in an intermediate uptrend, consolidating above key EMAs and the 50-day SMA after a recent record high. Medium-term bias is bullish, supported by Stage 2 consolidation above rising moving averages, while short-term action is neutral with flattening EMAs and neutral RSI, suggesting patience for a pullback. Execution is deferred to stalk for a pullback into the mid-220s support zone near the 50-day SMA. Invalidation occurs on a decisive break below the 50-day SMA and 200DMA.

  • ↑Q2 business volume rose to $37.2B (+$2.4B), revenue reached a record $125M
  • ↑Core earnings of $59M ($5.40/share), ROE at 18.9%, efficiency ratio 28%
  • ↓Weak profitability as operating expenses rise, offsetting net spread gains
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Federal Agricultural Mortgage Corporation (AGM), known as Farmer Mac, is a government-sponsored enterprise that facilitates liquidity and capital access for agricultural lenders in the United States. By focusing on agricultural finance, rural infrastructure, and renewable energy sectors, Farmer Mac plays a crucial role in supporting farmers and rural communities through tailored financial products. Its unique position allows it to thrive in the evolving agricultural finance landscape, especially amidst current market dynamics such as inflation and fluctuating commodity prices.

Bull says

  • ↑Q2 business volume rose to $37.2B (+$2.4B), revenue reached a record $125M
  • ↑Core earnings of $59M ($5.40/share), ROE at 18.9%, efficiency ratio 28%
  • ↑Core capital grew by $141M to $1.9B, exceeding requirements by 62%
  • ↑Accelerating farm & ranch loan demand and launch of FLEX platform boosts efficiency
  • ↑Government support and renewable energy investments underpin loan growth
  • ↑High earnings yield and book-to-price ratio indicate attractive valuation; positive earnings revisions reflect rising analyst confidence

Bear says

  • ↓Weak profitability as operating expenses rise, offsetting net spread gains
  • ↓$4.3M Q2 credit-loss provision highlights portfolio credit migration risks
  • ↓High leverage adds vulnerability to interest-rate shifts and credit tightening
  • ↓Low institutional 13F ownership indicates limited shareholder demand
  • ↓Commodity price swings and input-cost inflation threaten loan performance
  • ↓Negative size factors suggest challenges scaling versus larger peers

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-12-2026neutral

Transcript signals

Bull points

  • We achieved $800 million of net new business volume with new volume increases across all segments in our portfolio, resulting in total outstanding business volume of $30.6 billion as of quarter end.
  • The growth in our portfolio this quarter once again demonstrates our successful efforts over the last few years to strategically grow and diversify our business segments and revenue streams throughout changing market cycles.
  • The infrastructure finance line of business grew by $644 million in the second quarter to $10.4 billion as of quarter end, reflecting the continued strong demand for electric power, the continued investment in renewable energy generation and storage, and the significant demand for liquidity for data center investments.

Bear points

  • The second loan is a crop loan also based in the Southwest region that became delinquent in the second quarter due to weak operating performance.
  • we've had some softness, you know, I think really unwarranted, but some softness in our stock price.
  • Partially offsetting the growth in net effective spread in second quarter was an increase in operating expenses related to headcount, technology investments, and higher transaction related legal fees.
Read full transcript analysis ›