AGI (NYSE:AGBK) Sees Strong Trading Volume – Time to Buy?

AGI Inc (NYSE:AGBK) shares saw unusually-strong trading volume on Monday . Approximately 796,508 shares traded hands during trading, an increase of 27% from the previous session’s volume of 627,575 shares.The stock last traded at $7.0050 and had previously closed at $6.91.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AGBK. Morgan Stanley began coverage on shares of AGI in a research note on Monday, March 9th. They issued an “overweight” rating and a $21.00 price target for the company. HSBC began coverage on shares of AGI in a report on Thursday, March 5th. They set a “buy” rating and a $15.00 price objective for the company. Wall Street Zen upgraded shares of AGI to a “hold” rating in a research note on Saturday, February 21st. Citigroup initiated coverage on shares of AGI in a research report on Monday, March 9th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Itau BBA Securities started coverage on AGI in a report on Monday, March 9th. They issued an “outperform” rating and a $15.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.14.

AGI Trading Up 4.7%

AGI (NYSE:AGBK) last released its earnings results on Monday, March 23rd. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.22). The business had revenue of $547.80 million for the quarter, compared to analysts’ expectations of $541.66 million.

AGI Company Profile

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.