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Farmer Mac Posts Record 2025 Results, Raises Dividend

Story Highlights
  • Farmer Mac posted record 2025 business volume, net effective spread, and core earnings with solid capital ratios.
  • The board raised the common dividend 7% for a fifteenth straight year and maintained preferred payouts, signaling confidence in earnings and capital strength.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Farmer Mac Posts Record 2025 Results, Raises Dividend

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The latest update is out from Federal Agricultural ( (AGM) ).

On February 19, 2026, Farmer Mac reported strong results for the fiscal year ended December 31, 2025, including record outstanding business volume of $33.4 billion after $3.8 billion in net growth, $10.5 billion in liquidity and lending capacity provided to rural lenders, and a 10% year-over-year increase in net interest income to $390.7 million. Net effective spread rose 13% to a record $383.0 million, core earnings reached a record $182.9 million, or $16.66 per diluted share (up 7% year-over-year), and total core capital stood at $1.7 billion with a Tier 1 Capital Ratio of 13.3%, while some isolated borrower-specific credit events weighed on quarterly results.

Farmer Mac’s board underscored confidence in the company’s earnings power and capital base by raising the quarterly common dividend 7% to $1.60 per share on February 18, 2026, marking the fifteenth consecutive annual increase, with payment set for March 31, 2026 to common shareholders of record on March 16, 2026. The board also declared routine quarterly dividends on all five series of preferred stock for the period from January 17 to April 17, 2026, payable April 17, 2026 to holders of record on April 1, 2026, reinforcing the company’s signal of stable capital returns to both common and preferred investors despite recent, contained credit issues.

The most recent analyst rating on (AGM) stock is a Buy with a $187.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.

Spark’s Take on AGM Stock

According to Spark, TipRanks’ AI Analyst, AGM is a Outperform.

The overall stock score of 70 reflects a balance of moderate financial health, reasonable valuation, and positive technical indicators. Strong earnings call highlights and recent corporate events further support the stock’s potential, despite challenges in revenue growth and high leverage.

To see Spark’s full report on AGM stock, click here.

More about Federal Agricultural

The Federal Agricultural Mortgage Corporation, known as Farmer Mac, is the U.S. secondary market provider that expands access to financing for American agriculture and rural infrastructure. By providing liquidity and lending capacity to rural-focused lenders, the company supports farm, agribusiness, and rural utility borrowers while operating as a government-sponsored enterprise listed on the New York Stock Exchange.

Average Trading Volume: 96,795

Technical Sentiment Signal: Buy

Current Market Cap: $1.86B

For an in-depth examination of AGM stock, go to TipRanks’ Overview page.

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