AGI Inc (NYSE:AGBK) Stock Now Rated “Hold” by Wall Street Analysts

Shares of AGI Inc (NYSE:AGBK) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

AGBK has been the topic of a number of recent research reports. Oppenheimer cut their price target on shares of AGI from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday. The Goldman Sachs Group set a $13.00 price target on AGI in a research report on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th.

Insider Transactions at AGI

In other news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $11.99, for a total value of $3,074,068.14. Following the transaction, the chief technology officer owned 176,423 shares in the company, valued at approximately $2,115,311.77. The trade was a 59.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On AGI

A hedge fund recently bought a new position in AGI stock. State Street Corp acquired a new position in shares of AGI Inc (NYSE:AGBK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,400 shares of the company’s stock, valued at approximately $129,000.

AGI Trading Down 0.1%

AGBK traded down $0.01 during trading on Friday, reaching $6.32. 267,103 shares of the company’s stock were exchanged, compared to its average volume of 596,229. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. AGI has a one year low of $4.43 and a one year high of $12.21. The firm has a fifty day moving average price of $6.15 and a two-hundred day moving average price of $7.25. The stock has a market capitalization of $1.01 billion and a PE ratio of 6.79.

AGI announced that its board has authorized a share repurchase plan on Tuesday, October 27th that permits the company to repurchase 3,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Share buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About AGI

Agibank S.A. is a Brazilian financial services company that combines digital banking with a network of physical service locations. Its offerings include digital accounts, payment services, cards, personal credit and insurance, with a focus on serving individuals across Brazil. The company is particularly known for payroll-deductible loans, including credit products for retirees and public-sector employees. Agibank traces its origins to Agiplan, established in 1999, and adopted the Agibank name as it expanded its digital banking operations.