Federal Agricultural Mortgage Corporation (AGM-A)
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AGM-A Chart
Federal Agricultural Mortgage: The 7% Yielding Preferred Stock Is A 'Strong Buy'
Federal Agricultural Mortgage demonstrates robust profitability, with Q1 net profit up nearly 20% to $59.1 million despite elevated loan loss provisions. Loan loss provisions have moderated from Q4 levels, and preferred dividends remain well covered, with a payout ratio just over 12% of net income. AGM's Series F preferred shares now yield nearly 7%, offering a favorable risk/reward profile versus Treasuries, with additional upside if called.
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Federal Agricultural Mortgage Corporation Profile
| Financial Services Industry | Financials Sector | Bradford Todd Nordholm CEO | NYSE Exchange | 313148108 CUSIP |
| US Country | 191 Employees | 15 Jun 2026 Last Dividend | - Last Split | 18 Aug 1995 IPO Date |
Overview
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a key player in the United States agricultural sector, providing a secondary market for a variety of loans. These loans primarily cater to borrowers involved in agriculture or rural utilities, including renewable energy projects. Established in 1987 and headquartered in Washington, D.C., the organization seeks to enhance the availability and affordability of credit for the development of rural America. It operates through distinct segments, each focusing on specific areas such as Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy, thereby supporting the diverse needs of rural America.
Products and Services
- Agricultural Finance
- Rural Infrastructure Finance
This line of business focuses on improving liquidity in the agricultural sector. The services include the purchase and retention of eligible loans and securities, guaranteeing the payment of principal and interest on securities backed by pools of eligible loans, and servicing eligible loans. It also encompasses issuing long-term standby purchase commitments (LTSPCs) for eligible loans, ensuring financial stability and support for farmers and agricultural businesses.
Understanding the critical role of infrastructure in rural development, this segment is dedicated to financing rural utilities and renewable energy projects. It includes the purchasing of rural utilities loans and renewable energy loans, guaranteeing securities backed by these loans, and issuing LTSPCs for pools of eligible rural utilities loans. This ensures access to essential services like electricity and telecommunications, especially for cooperatives and other financial institutions that finance the construction of these facilities.
