Federal Agricultural

Federal Agricultural Mortgage Corp. is a stockholder-owned, federally chartered corporation. engages in the provision of a secondary market for agricultural real estate and rural housing mortgage loans, rural utilities loans, and loans guaranteed by the United States Department of Agriculture. It combines private capital and public sponsorship to serve a public purpose. The firm operates through the following segments: Farm & Ranch, Corporate AgFinance, Rural Utilities, Renewable Energy, Funding, Investments, and Corporate. The company was founded in 1987 and is headquartered in Washington, DC.

Earnings data Q1 2021

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Earnings data Q4 2023

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Earnings data Q4 2024

Farmer Mac reports record earnings, eyes renewable energy growth

Farmer Mac had a strong year in 2022, achieving record revenue and earnings, supported by strategic initiatives and disciplined asset management.
While facing challenges such as rising operating expenses, the company maintained a strong credit profile and increased shareholder value through dividend growth.
Opportunities lie in expanding the renewable energy lending portfolio, adding to the employee base, and further penetrating the market with securitization offerings.

Farmer Mac reports record Q1 earnings, eyes diversification opportunities

Farmer Mac's Q1 2023 earnings call showcased robust financial performance, strategic initiatives, and resilience in the face of economic headwinds. Despite challenges in operating expenses and flat Agricultural Finance volume, the company remains well-positioned for growth and continued shareholder value creation.

Farmer Mac reports record Q2 earnings, eyes renewable energy growth

Farmer Mac reported strong Q2 results with record core earnings and business volume, showcasing operational excellence and growth potential. The company's focus on renewable energy projects and strategic initiatives position it for future success.
While facing challenges in cost management, market sensitivity, and recruitment, Farmer Mac's proactive approach to technology upgrades and portfolio monitoring mitigates risks. Opportunities in renewable energy financing, securitization, and market positioning offer avenues for sustained growth and value creation.
Overall, Farmer Mac's performance highlights financial strength, operational resilience, and strategic foresight. The company's commitment to American agriculture, shareholder value, and market opportunities underpin its position as a key player in the agricultural finance sector.

Farmer Mac reports record earnings and eyes renewable energy growth

Farmer Mac delivered strong financial performance in Q3, marked by record earnings and robust business volume growth. The company's strategic management of funding sources and credit profile strength position it well for future opportunities.
While facing challenges such as higher operating expenses and interest rates, Farmer Mac's focus on innovation and growth initiatives presents avenues for continued success. Opportunities in renewable energy and wholesale financing further enhance the company's growth prospects.
Overall, Farmer Mac remains optimistic about the future, supported by solid market conditions and a positive outlook for 2024. The company's emphasis on disciplined execution and revenue generation underscores its commitment to sustainable growth.

Farmer Mac reports robust 2023 performance, eyes growth opportunities

Farmer Mac had a successful year in 2023 with double-digit earnings growth, record net effective spread, and substantial business volume growth. The company demonstrated strong financial performance, maintained credit quality, and exceeded regulatory capital requirements. Despite challenges such as operating expenses and potential prepayment risks, Farmer Mac remains optimistic about its future outlook and is focused on innovation and efficiency.
The company's strengths lie in its financial performance, dividend growth, strong credit profile, and strategic investments in technology and infrastructure. Opportunities for growth include continued Farm securitization, enhanced loan purchase activity, and expansion in renewable loans. Challenges include managing operating expenses, prepayment risks, and potential declines in farm income and land values.

Farmer Mac reports robust earnings growth amidst market challenges

Overall, Farmer Mac demonstrated solid financial performance and resilience in Q1 2024.
While facing challenges from rising expenses and market interest rates, the company maintained strong fundamentals.
Strategic focus on capital strength, liquidity, and growth opportunities positions Farmer Mac well for the future.

Farmer Mac reports robust Q2 results, eyes renewable energy growth

Farmer Mac's Q2 performance showcased growth in new business, revenue, and core earnings, despite challenges with credit expenses. The company's strong capital base, efficient expense management, and focus on renewable energy present promising opportunities for future growth.

Federal Agricultural excels in Q3, eyes market transformation opportunities

Federal Agricultural's Q3 2024 earnings call highlighted strong financial performance, operational efficiency improvements, and strategic investments in core infrastructure. Despite potential challenges from market uncertainties, the company's focus on growth in new segments and innovative products positions it well for the future.

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Federal Agricultural Mortgage Corp. is a stockholder-owned, federally chartered corporation, which engages in the provision of a secondary market for agricultural real estate and rural housing mortgage loans, rural utilities loans, and loans guaranteed by the United States Department of Agriculture. It combines private capital and public sponsorship to serve a public purpose. The firm operates through the following segments: Farm & Ranch, Corporate AgFinance, Rural Utilities, Renewable Energy, Funding, Investments, and Corporate. The company was founded in 1987 and is headquartered in Washington, DC.

Federal Agricultural (NYSE:AGM) reported its Q3 earnings results on Monday, November 8, 2021 at 04:00 PM. Here's what investors need to know about the announcement.

Recap: Federal Agricultural Q3 Earnings

Federal Agricultural Mortgage Corp

WASHINGTON, Nov. 8, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced its results for the fiscal quarter ended September 30, 2021. Third Quarter 2021 and Recent Highlights Added $2.5 billion of gross business volume, resulting in net growth of $921.6 million Net income of $24.3 million compared to $18.7 million in third quarter 2020 Core Earnings1 of $27.6 million compared to $27.7 million in the same period last year On August 18, 2021, completed a strategic acquisition that expanded the internal loan servicing function and acquired the loan servicing rights for a sizeable portion of our Farm & Ranch loan and USDA Guaranteed Securities portfolios On October 14, 2021, Farmer Mac closed a $302.7 million securitization of agricultural mortgage-backed securities "We delivered another quarter of strong earnings and net effective spread, reflecting the consistency of our fundamental business model," said President & Chief Executive Officer, Brad Nordholm.

Farmer Mac Reports Third Quarter 2021 Results

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WASHINGTON, Oct. 14, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), a stockholder-owned, federally chartered corporation that provides a secondary market for a variety of loans made to borrowers in rural America with the intent of increasing the availability and affordability of credit for the benefit of rural America, announced today that it has completed a $302.7 million securitization of agricultural mortgage loans.  "We are proud to announce the closing of the FARM Series 2021-1 securitization, a newly-structured and syndicated agricultural mortgage-backed securitization (AMBS)," said President & Chief Executive Officer, Brad Nordholm.

Farmer Mac Closes $302.7 Million Securitization of Agricultural Mortgage-Backed Securities (AMBS)

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A weekly summary of dividend activity for Dividend Champions and Contenders.

Dividend Champion And Contender Highlights: Week Of September 26

WASHINGTON, Aug. 18, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, announced today that it is enhancing its operations by expanding its internal loan servicing function. To further bolster these capabilities, the company has purchased the loan servicing rights for a portion of its Farm & Ranch and USDA Guaranteed loan portfolios through a strategic acquisition.

Farmer Mac Announces Strategic Acquisition and Expansion of Loan Servicing Function

Q2 operating EPS was better than I expected.

Farmer Mac: Q2 Earnings Better Than Expected, Buy This Seriously Overlooked Stock

Federal Agricultural Mortgage Corporation (AGM) CEO Brad Nordholm on Q2 2021 Results - Earnings Call Transcript

WASHINGTON, Aug. 5, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced its results for the fiscal quarter ended June 30, 2021. Second Quarter 2021 Highlights Added $1.5 billion of gross business volume, resulting in net growth of $334.6 million; Net interest income grew $6.8 million year-over-year to $55.1 million; Net effective spread, a non-GAAP measure, increased 22% from the prior-year period to $56.6 million and a high 1.01% of the overall portfolio, primarily due to portfolio growth and a continued shift in portfolio composition to higher spread loan purchase products; Net income attributable to common stockholders was $25.4 million, or $2.35 per diluted common share; Core earnings, a non-GAAP measure, grew 14% from the prior-year period to $30.0 million, or $2.77 per diluted common share; Second quarter 2021 efficiency ratio of 26%; Return on Equity improved to 18%, compared to 16% for the first quarter 2021; Total allowance for credit losses reflected $1.0 million release driven by improving credit metrics and economic forecasts; and Issued $125.0 million of Tier 1 capital through the public offering of 4.875% Series G non-cumulative preferred stock.

Farmer Mac Reports Second Quarter 2021 Results

WASHINGTON, July 26, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced that it will release its financial results for the fiscal quarter ended June 30, 2021, on Thursday, August 5, 2021, after the closing of equity markets.  A conference call to discuss the results will be held that day at 4:30 p.m.

Farmer Mac to Announce Second Quarter 2021 Financial Results

MGIC Investment

Farmer Mac and MGIC trade very much with KRE, the Regional Banking Index ETF. Yet neither Farmer Mac nor MGIC are materially influenced by the banks' major driver, long-term interest rates.

Farmer Mac And MGIC - The Anti-Banks. Stereotyping Creates Opportunity.

Farmer Mac recently issued a new series of preferred shares. I expect the coverage ratio of the preferred dividends to be around 500%, including the new issue.

Federal Agricultural Mortgage: A Look At The Newly-Issued 4.875% Preferred Shares

WASHINGTON, May 20, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) today announced that it has agreed to issue $125 million of Tier 1 capital through the public offering of 4.875% non-cumulative perpetual Series G preferred stock, par value $25.00 per share. The preferred stock offering is expected to close on May 27, 2021, subject to customary closing conditions.

Farmer Mac Prices $125 Million of Series G Preferred Stock

What's behind Q1 earnings, which grew by 28% YoY.

Farmer Mac: Q1 Was Another Boring Quarter. This Boring Stock Should Be 50% Higher

Federal Agricultural Mortgage Corp (AGM) CEO Bradford Nordholm on Q1 2021 Results - Earnings Call Transcript

WASHINGTON, May 6, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced its results for the fiscal quarter ended March 31, 2021. First Quarter 2021 Highlights Provided $1.5 billion in liquidity and lending capacity; Net income attributable to common stockholders was $28.0 million, or $2.58 per diluted common share; Core earnings, a non-GAAP measure, grew 29% from the prior-year period to $25.9 million, or $2.39 per diluted common share; Net interest income grew $12.0 million year-over-year to $53.3 million; Net effective spread, a non-GAAP measure, increased 22% from the prior-year period to $53.9 million; 90-day delinquencies were 0.33% of total outstanding business volume as of March 31, 2021; and Continued strong liquidity position, as evidenced by quarter-end cash position of $1.0 billion.

Farmer Mac Reports First Quarter 2021 Results

WASHINGTON, April 29, 2021 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, today announced that it will release its financial results for the fiscal quarter ended March 31, 2021, on Thursday, May 6, 2021, after the closing of equity markets.  A conference call to discuss the results will be held that day at 4:30 p.m.

Farmer Mac to Announce First Quarter 2021 Financial Results

Farmer Mac has recently accelerated dividend growth with targeted payouts.

Partner With Farmer Mac, Your Trusted Grower Of Hearty And Ripe Dividends

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Farmer Mac reported a solid Q4, growing EPS by 8% YoY. I expect 2021 EPS to be $10.50, up 13% from '20.

Farmer Mac: Strong EPS Growth Ahead With A No-Growth Valuation; Buy

Federal Agricultural Mortgage's (AGM) CEO Brad Nordholm on Q4 2020 Results - Earnings Call Transcript

ConnectOne Bancorp

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Farmer Mac delivered another great quarter. Well on its way to earning $9 per share this year. Farmer Mac trades like a bank, but it significantly outperforms them.

Farmer Mac: It Trades Like A Bank But Is Far Better; This Stock Should Be A Double

Federal Agricultural Mortgage Corp (AGM) CEO Brad Nordholm on Q3 2020 Results - Earnings Call Transcript

Zillow

I believe that Farmer Mac has a more than 100% upside and Zillow an 80% downside.

Investment Science Denial - Revisiting My Farmer Mac Long And Zillow Short

News for Federal Agricultural Stock (AGM)