AGI (NYSE:AGBK) Stock Gets Price Target Cut from Oppenheimer

AGI (NYSE:AGBK) had its target price dropped by Oppenheimer from $9.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer‘s price target points to a potential upside of 50.77% from the stock’s previous close.

Several other brokerages have also recently weighed in on AGBK. The Goldman Sachs Group set a $13.00 price objective on shares of AGI in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. Finally, Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, AGI currently has an average rating of “Hold” and a consensus target price of $14.00.

AGI Trading Up 4.0%

Shares of AGBK stock opened at $5.31 on Thursday. The stock’s fifty day simple moving average is $6.17 and its 200 day simple moving average is $7.26. AGI has a twelve month low of $4.43 and a twelve month high of $12.21. The firm has a market capitalization of $848.59 million and a P/E ratio of 8.99. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.31.

AGI announced that its board has authorized a share buyback program on Tuesday, October 27th that allows the company to buy back 3,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the completion of the sale, the chief technology officer owned 176,423 shares in the company, valued at approximately $2,115,311.77. This represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of AGI

An institutional investor recently bought a new stake in AGI stock. State Street Corp bought a new position in shares of AGI Inc (NYSE:AGBK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,400 shares of the company’s stock, valued at approximately $129,000.

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.