Added to YB: 2026-04-13
Pitch date: 2026-04-10
AGM [bullish]
Federal Agricultural Mortgage Corporation
Author Info
No bio for this author
Company Info
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States.
Market Cap
$1.7B
Pitch Price
N/A
Price Target
247.00 (+56%)
Dividend
4.10%
EV/EBITDA
N/A
P/E
9.38
EV/Sales
N/A
Sector
Financial Services
Category
value
$AGM Farmer Mac - A gem hidden in plain sight
AGM: GSE lender to ag real estate w/ 7% volume CAGR, 30% efficiency ratio, 2bps CoR on Farm&Ranch (avg 51% LTV capped at 70%, collateral appreciates 4-6%/yr). Market misunderstands: 60% RWA vs realistic 25% for overcollateralized loans. At fair RWA, CET1 11.87% justifies current leverage. No duration/liquidity risk. 16-18% ROE, 10% growth 5yr, 4% terminal = $247 PT (vs ~$150s). LTSPCs earn g-fees at 4x capital efficiency vs on-balance sheet.
Read full article (9 min)