Federal Agricultural Mortgage (NYSE:AGM) Releases Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Federal Agricultural Mortgage (NYSE:AGM) posted its quarterly earnings results on Tuesday. The credit services provider reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.30, FiscalAI reports. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.33%. The business had revenue of $109.13 million during the quarter, compared to the consensus estimate 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 Trading Up 1.0%

Shares of Federal Agricultural Mortgage stock traded up $1.72 during trading hours on Thursday, hitting $180.62. The company’s stock had a trading volume of 19,509 shares, compared to its average volume of 115,683. The company has a market capitalization of $1.96 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50 day moving average of $158.30 and a 200 day moving average of $166.42. Federal Agricultural Mortgage has a 12 month low of $136.57 and a 12 month high of $210.64.

Federal Agricultural Mortgage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.50. This represents a $6.40 dividend on an annualized basis and a yield of 3.5%. Federal Agricultural Mortgage’s payout ratio is presently 38.46%.

Key Stories Impacting Federal Agricultural Mortgage

Here are the key news stories impacting Federal Agricultural Mortgage this week:

• Positive Sentiment: Q1 results: EPS of $4.74 beat consensus and showed strong profitability (net margin ~20.8%, ROE ~18.3%), reinforcing the beat narrative that likely supported buying interest. Federal Agricultural Mortgage Q1 results and call
• Positive Sentiment: Sidoti raised forward guidance: the firm increased FY2026 and FY2027 EPS forecasts (FY2026 to $19.29 from $18.86; FY2027 to $20.48 from $20.22) and lifted several quarterly estimates — a net positive revision to near?term earnings expectations that supports the stock.
• Positive Sentiment: Cash / tax planning: Management expects to utilize roughly $30M of remaining tax?credit carryback capacity in Q2 and to roll callable?debt savings into spread — this should help near?term cash flow and margins. Farmer Mac expects to utilize $30M of remaining tax credit carryback capacity in Q2 as it rolls callable debt savings into spread
• Neutral Sentiment: Revenue slightly missed the consensus ($~109.1M vs. ~$110.8M), so the beat was driven mainly by expense/other items rather than top?line strength — watch upcoming quarters for revenue confirmation. Federal Agricultural Mortgage Q1 results and call
• Negative Sentiment: Minor downward tweaks: Sidoti trimmed a couple of quarterly estimates (notably small cuts to Q2 2027 and Q4 2026), indicating some uncertainty around timing/seasonality — a modest negative that offsets some of the upgrades.

Analyst Ratings Changes

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

Institutional Trading of Federal Agricultural Mortgage

A number of large investors have recently bought and sold shares of AGM. Acadian Asset Management LLC acquired a new position in shares of Federal Agricultural Mortgage in the first quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth $40,000. Advisory Services Network LLC bought a new stake in Federal Agricultural Mortgage in the 3rd quarter valued at $48,000. Danske Bank A S acquired a new position in Federal Agricultural Mortgage in the 3rd quarter worth $50,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Federal Agricultural Mortgage by 800.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 392 shares during the period. 68.03% of the stock is owned by institutional investors.

About Federal Agricultural Mortgage

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.