AGI (NYSE:AGBK) Announces Earnings Results

AGI (NYSE:AGBK) issued its earnings results on Wednesday. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05, Zacks reports.

AGI Stock Performance

Shares of NYSE:AGBK traded up $0.21 during midday trading on Wednesday, hitting $5.31. The company’s stock had a trading volume of 336,526 shares, compared to its average volume of 449,746. The stock has a market capitalization of $848.59 million and a price-to-earnings ratio of 8.99. The stock’s 50 day simple moving average is $6.19 and its 200 day simple moving average is $7.27. AGI has a fifty-two week low of $4.43 and a fifty-two week high of $12.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AGBK shares. The Goldman Sachs Group set a $13.00 price target on AGI in a research note on Thursday, August 6th. Zacks Research cut AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Oppenheimer dropped their price objective on AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.14.

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 repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the business’s stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

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.