AGI Inc’s (NYSE:AGBK) Quiet Period Set To Expire on March 23rd

AGI’s (NYSE:AGBK) quiet period is set to expire on Monday, March 23rd. AGI had issued 20,000,000 shares in its IPO on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AGBK shares. Zacks Research upgraded shares of AGI to a “hold” rating in a report on Tuesday, March 10th. Itau BBA Securities started coverage on shares of AGI in a research report on Monday, March 9th. They set an “outperform” rating and a $15.00 price target for the company. Wall Street Zen raised shares of AGI to a “hold” rating in a research note on Saturday, February 21st. Oppenheimer initiated coverage on shares of AGI in a report on Monday, March 9th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, Susquehanna initiated coverage on shares of AGI in a report on Monday, March 9th. They set a “positive” rating and a $17.00 target price for the company. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.14.

AGI Price Performance

NYSE AGBK opened at $9.35 on Friday. AGI has a 12 month low of $9.00 and a 12 month high of $12.21.

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.