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Federal Agricultural Mortgage Corporation
Traded as NYSE: AGM
Founded 1988 (1988) in Washington DC
Headquarters 1999 K Street, N.W., 4th Floor, Washington, DC, United States of America
Website www.farmermac.com

The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such as mortgages for agricultural real estate and rural housing. The company purchases loans from agricultural lenders, and sells instruments backed by those loans. The company also works with the United States Department of Agriculture. It is based in Washington, D.C.

It was created by the Agricultural Credit Act of 1987 (Pub.L. 100–233) as a federally chartered, private corporation responsible for guaranteeing the timely repayment of principal and interest to investors in a new agricultural secondary market. The secondary market allows a lending institution to sell a qualified farm real estate loan to an agricultural mortgage marketing facility, or pooler, which packages these loans, and sells to investors securities that are backed by, or represent interests in, the pooled loans. Farmer Mac guarantees the timely repayment of principal and interest on these securities and, under authorities granted in 1995, can also serve as a loan pooler.

The company was founded in the midst of a $4 billion bailout of the Farm Credit System, hoping to provide an alternative source of credit to farmers following the models of Fannie Mae and Ginnie Mae.

In June 2008, Farmer Mac had $47.2 million invested in Fannie Mae shares. Over the next few months, in the wake of the Federal takeover of Fannie Mae and Freddie Mac, these investments lost about $44 million in value. The company also had significant investments in the newly-bankrupt Lehman Brothers Holdings. In response, the Farm Credit System bailed the company out by purchasing $60 million in Farmer Mac stock, and Zions Bancorporation of Salt Lake City purchased another $5 million in stock.

News

Federal Agricultural Mortgage Corporation -2.69% (financial)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-23 Future report Set alerts
Q3 2020 2020-11-04 Future report Set alerts
Q2 2020 2020-08-10 2.45 2.94
Q1 2020 2020-05-11 1.87 0.87
Q4 2019 2020-02-25 2.27 2.70
Q3 2019 2019-11-06 2.17 1.33
Q2 2019 2019-08-01 2.20 2.63
Q1 2019 2019-05-02 2.06 2.03
Q4 2018 2019-02-21 1.90 1.82
Q3 2018 2018-11-08 2.08 2.46

Ratings

2016-05-12 Downgrade Compass Point Buy to Neutral $40.00
2016-05-11 Downgrade Sidoti Buy to Neutral
2016-03-11 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $36.00 to $38.00
2016-01-27 Initiated Coverage Sidoti Buy $40.00
2015-11-11 Reiterated Rating Compass Point Buy $39.00
2015-11-11 Boost Price Target Keefe, Bruyette & Woods $35.00 to $36.00
2015-08-12 Lower Price Target Keefe, Bruyette & Woods Outperform $35.00
2014-05-16 Lower Price Target Keefe, Bruyette & Woods $46.00 to $43.00
2014-05-13 Lower Price Target Compass Point Buy $42.00 to $37.00
2014-04-09 Initiated Coverage Keefe, Bruyette & Woods Outperform $46.00
2013-09-18 Initiated Coverage Sidoti Buy
2012-05-02 Initiated Compass Point Buy $41
2016-05-12 Downgrade Compass Point Buy to Neutral $40.00
2016-05-11 Downgrade Sidoti Buy to Neutral
2016-03-11 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $36.00 to $38.00
2016-01-27 Initiated Coverage Sidoti Buy $40.00
2015-11-11 Reiterated Rating Compass Point Buy $39.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
BUZBY TIMOTHY L President and CEO 3.76%  (38723) AGM /
Maxwell Clark 2.69%  (27696) AGM /
STENSON TOM D Chief Operating Officer 2.30%  (23662) AGM /
Lynch Robert Dale SVP - Chief Financial Officer 2.24%  (23049) AGM / ALD /
Covington John Curtis SVP - Agricultural Finance 1.59%  (16401) AGM /
Mullery Stephen P SVP - General Counsel 1.50%  (15435) AGM /
JOHNSON MITCHELL A 1.37%  (14079) AGM /
Watts Myles James 1.31%  (13504) AGM /
Sherrick Bruce J 1.10%  (11364) AGM /
Davidson Richard H 1.00%  (10294) AGM /
Wilhelm Douglas E 0.99%  (10203) AGM /
BRACK DENNIS L 0.83%  (8513) AGM /
McElroy James B. 0.68%  (6979) AGM /
Engebretsen James R 0.61%  (6263) AGM /
JUNKINS LOWELL 0.60%  (6213) AGM /
Hill Thomas William 0.50%  (5103) AGM /
Faivre-Davis Sara Louise 0.49%  (5026) AGM /
Flory Douglas 0.45%  (4634) AGM /
AGRIBANK FCB 0.39%  (4040) AGM /
RAINES JOHN DAN JR 0.38%  (3956) AGM /
Culver Chester J 0.33%  (3433) AGM /
Felton Douglas 0.26%  (2679) AGM /
Ramsey Gregory Principal Accounting Officer 0.24%  (2435) AGM /
Everson Dennis A 0.17%  (1739) AGM /
Leibold Carla A Principal Accounting Officer 0.10%  (1000) AGM / CUBI /

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