Bullish indicating open at $55-$60, IPO prices at $37
Robert G. Sexton, a director at Federal Agricultural Mortgage Corp (NYSE:AGM), has recently purchased 1,000 shares of the company’s Class C Non-Voting Common Stock. The company, with a market capitalization of $2.1 billion, has demonstrated strong financial performance with a "GOOD" overall health score according to InvestingPro analysis. The shares were acquired at a price of $195.616 each, resulting in a total transaction value of $195,616. The purchase price represents a premium to the current trading price of $190.78, while the stock offers a 3.1% dividend yield and has maintained dividend payments for 22 consecutive years. Following this acquisition, Sexton holds a total of 13,517 shares, which includes 749 unvested restricted stock units scheduled to vest in March 2025 and March 2026, contingent upon his continued service as a director. The transaction was conducted during an open trading window for Farmer Mac employees and directors. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value estimate, with 7 additional exclusive insights available to subscribers.
In other recent news, Farmer Mac has made notable adjustments to its executive compensation structure, with salary increases for key executives and the granting of stock appreciation rights and restricted stock units. These changes, effective retroactively to January 1, 2025, align compensation with performance metrics. Keefe, Bruyette & Woods analysts have updated their outlook on Farmer Mac, raising the stock target to $230 and adjusting earnings estimates for 2025, 2026, and introducing a 2027 estimate. This reflects an anticipated stability in forward spreads and a conservative approach to potential credit losses. Farmer Mac also announced the passing of board member Roy H. Tiarks, who was an influential figure on the board since May 2021. The company is considering filling the vacancy left by Tiarks before the next annual stockholders’ meeting. Additionally, Farmer Mac has expanded its credit facility with the National Rural Utilities Cooperative Finance Corporation, increasing the maximum purchase amount to $6.5 billion and extending the borrowing period. This expansion reflects Farmer Mac’s ongoing efforts to enhance credit availability for the agricultural community and rural utilities.
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