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MarketBeat
Mon, March 23, 2026 astatine 4:02 AM CDT 7 min read
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Farmer Mac is targeting $50–$55 cardinal by 2030, implying an 8%–11% compound yearly maturation rate, and is aiming for 10%–12% gross growth with an expense-discipline scope of 28%–30%.
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CEO Brad Nordholm is approaching status with President/COO Zach Carpenter positioned arsenic successor arsenic the steadfast shifts to a "Drive to Scale" phase, and absorption highlights its GSE backing vantage and improved nett effectual dispersed (about 120 ground points successful 2025) arsenic competitory strengths.
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Despite share-price weakness tied to headlines astir workplace stress, Farmer Mac says portfolio fundamentals stay sound—non‑accruals were $238 cardinal (≈1.4% of loans) astatine year‑end 2025, farmland collateral values person not declined, and the institution focuses connected farmland lending alternatively than operating loans.
Federal Agricultural Mortgage (NYSE:AGM) utilized its 2026 Investor Day to outline however absorption views the company’s competitory advantages, caller growth, and a caller strategical program targeting higher concern measurement done the extremity of the decade. Executives besides addressed caller stock terms weakness, which CEO Brad Nordholm attributed mostly to antagonistic sentiment astir portions of the U.S. workplace system alternatively than Farmer Mac’s portfolio fundamentals.
Nordholm reflected connected astir 8 years starring Farmer Mac, describing a strategy that emphasized gathering a “more commercialized and much divers organization” portion remaining focused connected the company’s ngo of providing liquidity to agrarian America. He cited Farmer Mac’s government-sponsored endeavor (GSE) charter and “unsurpassed entree to the indebtedness superior markets” arsenic cardinal advantages, saying the institution tin contented indebtedness crossed the curve retired to 30 years astatine minimal spreads to U.S. Treasuries.
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Nordholm said the institution acceptable an interior “40 by 40” extremity successful 2019—$40 cardinal of assets nether absorption by the company’s 40th day successful 2028—and reported Farmer Mac ended 2025 astatine $33 billion. He added the people could beryllium reached “in the adjacent twelvemonth and a half, 2 years.” Nordholm besides said President and Chief Operating Officer Zach Carpenter is good prepared to win him arsenic helium approaches retirement, calling the modulation “very, precise seamless.”
Nordholm said absorption believes the market’s caller valuation of Farmer Mac has been pressured by headlines astir workplace stress, including higher input costs, little commodity prices successful definite enactment crops, tariff uncertainty, and fertilizer availability concerns. He said Farmer Mac’s investigation shows a much nuanced picture, pointing to profitability successful nutrient proteins and spot successful immoderate specialty crops, alongside expectations for semipermanent tailwinds tied to vigor demand, broadband, and information centers successful agrarian America.
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