AGI (NYSE:AGBK) Stock Crosses Above 50-Day Moving Average on Analyst Downgrade

Key Points

• AGI shares climbed above their 50-day moving average of $6.16, reaching $6.38 before last trading at $6.339.
• Zacks Research upgraded AGI to Hold. Analysts’ average rating is Hold, with an average price target of $14; six rate the stock Buy, one Hold, and two Sell.
• AGI reported third-quarter EPS of $0.34, above the $0.29 consensus estimate, and has authorized repurchases of up to 3 million shares.

AGI Inc (NYSE:AGBK - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday after Zacks Research upgraded the stock to a hold rating. The stock has a 50 day moving average of $6.16 and traded as high as $6.38. AGI shares last traded at $6.3390, with a volume of 462,803 shares changing hands.

AGBK has been the topic of several other reports. HSBC initiated coverage on AGI in a research report on Thursday, March 5th. They issued a "buy" rating and a $15.00 price objective on the stock. Morgan Stanley began coverage on AGI in a research note on Monday, March 9th. They issued an "overweight" rating and a $21.00 price target for the company. Susquehanna started coverage on AGI in a report on Monday, March 9th. They set a "positive" rating and a $17.00 price target on the stock. Oppenheimer began coverage on AGI in a research report on Monday, March 9th. They set an "outperform" rating and a $15.00 price objective on the stock. Finally, Citigroup assumed coverage on AGI in a research report on Monday, March 9th. They set a "buy" rating and a $18.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, AGI presently has an average rating of "Hold" and an average target price of $14.00.

Insider Buying and Selling

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of AGI 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 completion of the sale, the chief technology officer owned 176,423 shares of the company's stock, valued at approximately $2,115,311.77. The trade was a 59.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

More AGI News

These are some of the AGBK news items that stood out recently:

• Positive Sentiment: AGI reported third-quarter EPS of $0.34, above the $0.29 consensus estimate. MarketBeat earnings report
• Neutral Sentiment: Oppenheimer cut its price target from $9 to $8 but maintained an “outperform” rating; the revised target still implies potential upside from the reference price cited in the report. Oppenheimer recommendations
• Neutral Sentiment: AGI posted third-quarter revenue of 3.22 billion Brazilian reals. Revenue report

Hedge Funds Weigh In On AGI

An institutional investor recently bought a new position in AGI stock. State Street Corp acquired a new stake in shares of AGI Inc (NYSE:AGBK - Free Report) in the third quarter, according to the company in 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 Stock Performance

The business has a 50-day moving average of $6.16 and a 200 day moving average of $7.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $1.01 billion and a PE ratio of 6.82.

AGI announced that its board has initiated a share buyback plan on Tuesday, October 27th that permits the company to repurchase 3,000,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

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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