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

Key Points

• Oppenheimer lowered its price target on AGI from $9 to $8 but maintained an “outperform” rating, implying 50.77% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports an average “Hold” rating and a $14 consensus target, with six Buy, one Hold, and two Sell ratings.
• AGI authorized a buyback of up to 3 million shares. Separately, its CTO sold 256,386 shares, reducing his direct ownership by 59.24%.

AGI (NYSE:AGBK - Get Free Report) had its target price decreased by equities research analysts at Oppenheimer from $9.00 to $8.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 50.77% from the stock's previous close.

AGBK has been the subject of a number of other research reports. The Goldman Sachs Group set a $13.00 target price on shares of AGI in a research note on Thursday, August 6th. Zacks Research lowered shares of AGI from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of AGI in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, AGI presently has an average rating of "Hold" and a consensus target price of $14.00.

AGI Trading Up 4.0%

AGBK stock opened at $5.31 on Thursday. AGI has a one year low of $4.43 and a one year high of $12.21. The stock has a market cap of $848.59 million and a price-to-earnings ratio of 8.99. The company has a fifty day moving average price of $6.17 and a two-hundred day moving average price of $7.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51.

AGI announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 27th that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Share repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the company's stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of AGI

An institutional investor recently bought a new position in AGI stock. State Street Corp purchased a new stake in AGI Inc (NYSE:AGBK - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,400 shares of the company's stock, valued at approximately $129,000.

AGI Company Profile

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.

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