Record Business Volume: Farmer Mac reported a record business volume of $31.1 billion for the third quarter of 2025, with significant growth in net interest income and core earnings, reflecting a strong performance in agricultural finance and rural infrastructure lending.
Financial Highlights: The company achieved a net income of $48.7 million and core earnings of $49.6 million, with a 13% year-over-year increase in net interest income, demonstrating a solid capital position and diversified portfolio.
Liquidity and Capital Position: As of September 30, 2025, Farmer Mac maintained 317 days of liquidity and a total core capital of $1.7 billion, exceeding statutory requirements by 75%, which supports its growth and financial resilience.
Future Outlook and Risks: Management expressed confidence in the portfolio's health but acknowledged potential risks from economic conditions, regulatory changes, and market fluctuations that could impact agricultural lending and borrower repayment capacity.
Wall Street analysts forecast AGM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGM is 219.00 USD with a low forecast of 219.00 USD and a high forecast of 219.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast AGM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGM is 219.00 USD with a low forecast of 219.00 USD and a high forecast of 219.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 175.870
Low
219.00
Averages
219.00
High
219.00
Current: 175.870
Low
219.00
Averages
219.00
High
219.00
Piper Sandler
Piper Sandler
Overweight
maintain
$9 -> $10
2025-12-22
Reason
Piper Sandler
Piper Sandler
Price Target
$9 -> $10
AI Analysis
2025-12-22
maintain
Overweight
Reason
Piper Sandler raised the firm's price target on AG Mortgage to $10 from $9 and keeps an Overweight rating on the shares ahead of Q4 results for the firm's mortgage finance coverage. The sector backdrop has shifted positively, driven by 30-year rates falling to 6.2% from 7%-plus highs earlier in the year and material tightening in agency spreads. While the market has not yet fully "normalized," momentum is building, Piper argues. Mortgage application volumes are rising, led by an 18% sequential and 100%-plus year-over-year surge in refinance activity. Additionally, GSE reform is likely to return to the spotlight given the administration's push for a deal under President Trump and FHFA Director Bill Pulte, it adds.
Keefe Bruyette
Bose George
Outperform
maintain
$9
2025-12-18
Reason
Keefe Bruyette
Bose George
Price Target
$9
2025-12-18
maintain
Outperform
Reason
Keefe Bruyette analyst Bose George raised the firm's price target on AG Mortgage to $9 from $8.50 and keeps an Outperform rating on the shares. The firm remains most constructive on the agency MBS REITs heading into 2026, the analyst tells investors in a research note.
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Keefe Bruyette
Bose George
Market Perform
to
Outperform
upgrade
$217 -> $219
2025-11-04
Reason
Keefe Bruyette
Bose George
Price Target
$217 -> $219
2025-11-04
upgrade
Market Perform
to
Outperform
Reason
Keefe Bruyette analyst Bose George upgraded Federal Agricultural Mortgage to Outperform from Market Perform with a price target of $219, up from $217.
Keefe Bruyette
Keefe Bruyette
Market Perform -> Outperform
upgrade
$217 -> $219
2025-11-04
Reason
Keefe Bruyette
Keefe Bruyette
Price Target
$217 -> $219
2025-11-04
upgrade
Market Perform -> Outperform
Reason
Keefe Bruyette upgraded Federal Agricultural Mortgage to Outperform from Market Perform with a price target of $219, up from $217. The company reported solid Q3 results with strong operating trends, the analyst tells investors in a research note. The firm cites valuation for the upgrade, saying Federal Agricultural shares are currently trading well below its historical range.
About AGM
Federal Agricultural Mortgage Corporation is a stockholder-owned, federally chartered corporation that combines private capital and public sponsorship to serve a public purpose. The Company’s secondary market provides liquidity to its agricultural and infrastructure businesses, supporting rural America. The Company’s segments include Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. The Farm & Ranch segment includes the USDA securities portfolio, Farm & Ranch loans, and AgVantage securities. The Corporate AgFinance segment includes loans and AgVantage securities to larger and more complex farming operations, agribusinesses focused on food and fiber processing, and other supply chain production. The Power & Utilities segment includes loans to rural electric generation and transmission cooperatives and distribution cooperatives, as well as AgVantage securities secured by those types of loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
