Federal Agricultural Mortgage C (AGM) Stock Analysis
Financial Services · Credit Services
Sell if holding. At $173.80, A.R:R 1.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Counterparty: top-3 AgVantage counterparties (90.6%); Concentration risk — Customer: top-10 Agricultural Finance institutions (55.0%).
Federal Agricultural Mortgage Corporation (Farmer Mac) is a federally-chartered GSE providing a secondary market for agricultural mortgage loans, USDA Securities, and rural infrastructure loans, earning net interest income and guarantee/commitment fees. As of Dec 31, 2025, $8.4B... Read more
Sell if holding. At $173.80, A.R:R 1.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Counterparty: top-3 AgVantage counterparties (90.6%); Concentration risk — Customer: top-10 Agricultural Finance institutions (55.0%). Chart setup: No clear chart pattern; technical signals are mixed. Score 6.1/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, earnings proximity 58d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About Federal Agricultural Mortgage C
About Federal Agricultural Mortgage C
Seven reportable segments spanning Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, and Renewable Energy form the operational core of Farmer Mac — the sole federally-chartered secondary market for U.S. agricultural mortgage loans, infrastructure loans, and USDA Securities — which held $8.4 billion in AgVantage securities outstanding and $5.4 billion in contingent LTSPC and guarantee liabilities at December 31, 2025. The Farm Credit Administration regulates Farmer Mac under 12 C.F.R. §§ 652.1-652.45.
Farmer Mac earns net interest income on loans and securities held on balance sheet and collects guarantee and commitment fees on LTSPCs and securitization transactions, with charter-capped guarantee fee rates of no more than 50 basis points per year. Funding relies on public capital-market debt issuance, where the company competes with Fannie Mae, Freddie Mac, Federal Home Loan Banks, and FCS institutions for investor capital. Counterparty concentration is a defining feature of both business lines: in 2025, ten institutions generated approximately 55% of loan purchase volume in the Agricultural Finance segment, while two institutions represented nearly all of the Infrastructure Finance business volume. AgVantage securities — general obligations of institutional counterparties collateralized by pools of Eligible Loans — amplify this pattern further, with approximately 90.6% of the $8.4 billion outstanding balance issued by three institutions at December 31, 2025.
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Farmer Mac's counterparty concentration is measurable and explicitly flagged in the 10-K: $7.6 billion of the $8.4 billion in AgVantage securities outstanding had been issued by three counterparties at December 31, 2025, and taking possession of collateral upon a counterparty default could increase current expected credit losses and raise capital requirements. In June 2026, Farmer Mac disclosed via Form 8-K the retirement of President and CEO Bradford T. Nordholm, adding a management transition dimension alongside the counterparty concentration profile.
See also: Financial Services · Credit Services
From Federal Agricultural Mortgage C's most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-06-09Recent Developments — Federal Agricultural Mortgage C
Material events (past 30 days)
- 8K Jun 8, 2026 HIGH Item 5.02: Bradford T. Nordholm, President and CEO of Farmer Mac, announced retirement (advised board September 25, 2025); event date June 3, 2026. Filing body truncated; no successor confirmed in available text.
Latest news
- NEWS CA Cultural Technology Group Postpones AGM as Share Trading Remains Suspended - The Globe and Mail — The Globe and Mail neutral
- NEWS Federal Agricultural Mortgage to Pay Quarterly Dividend of $1.60 a Share, Payable June 30 to Holders of Record June 15 - — marketscreener.com positive
- NEWS Greggs Passes All AGM Resolutions but Faces Dissent on Share Issuance Powers - TipRanks — TipRanks neutral
- NEWS Federal Agricultural Mortgage (AGM) Plans $100M Preferred Stock Offering - GuruFocus — GuruFocus neutral
- NEWS WuXi AppTec Confirms AGM and Share Class Meeting Results, Governance Changes and Dividend - TipRanks — TipRanks neutral
Generated 2026-06-15T18:11:46Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHcounterpartytop-3 AgVantage counterparties91%10-K Item 1A: 'approximately 90.6% of the $8.4 billion outstanding principal amount of AgVantage securities... were issued by three institutions'
- HIGHCustomertop-10 Agricultural Finance institutions55%10-K Item 1A: 'In 2025, ten institutions generated approximately 55% of loan purchase volume in the Agricultural Finance line of business'
- HIGHCustomertwo Infrastructure Finance institutions10-K Item 1A: 'transactions with two institutions represented nearly all of the business volume under our Infrastructure Finance line of business'
Material Events(8-K, last 90d)
- 2026-04-21Item 5.02LOWMandy M. Talan (Corporate Controller) appointed principal accounting officer effective April 21, 2026, succeeding Gregory Ramsey who retired April 8, 2026. No disagreement cited.SEC filing →
- 2026-03-26Item 5.02LOWGregory N. Ramsey, VP-Chief Accounting Officer (principal accounting officer), announced retirement effective April 8, 2026. No disagreement cited; successor Mandy Talan named.SEC filing →
- 2026-03-11Item 5.02LOWHuman Capital and Compensation Committee approved base salary increases for named executive officers on March 5, 2026, effective retroactively to January 2026. Routine compensatory arrangement; no officer departures.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Frequently Asked Questions
Sell if holding. At $173.80, A.R:R 1.1:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Counterparty: top-3 AgVantage counterparties (90.6%); Concentration risk — Customer: top-10 Agricultural Finance institutions (55.0%). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $165.65. Score 6.1/10, moderate confidence.
Take-profit target: $186.72 (+7.4% upside). Prior stop was $165.65. Stop-loss: $165.65.
Concentration risk — Counterparty: top-3 AgVantage counterparties (90.6%); Concentration risk — Customer: top-10 Agricultural Finance institutions (55.0%); Thin upside margin: 7.4%.
Federal Agricultural Mortgage C trades at a P/E of 10.5 (forward 8.5). TrendMatrix value score: 7.8/10. Verdict: Sell.
6 analysts cover AGM with a consensus score of 4.0/5. Average price target: $220.
What does Federal Agricultural Mortgage C do?Federal Agricultural Mortgage Corporation (Farmer Mac) is a federally-chartered GSE providing a secondary market for...
Federal Agricultural Mortgage Corporation (Farmer Mac) is a federally-chartered GSE providing a secondary market for agricultural mortgage loans, USDA Securities, and rural infrastructure loans, earning net interest income and guarantee/commitment fees. As of Dec 31, 2025, $8.4B in AgVantage securities were outstanding (90.6% from three institutions) and $5.4B in contingent LTSPC/guarantee liabilities.