AGI (NYSE:AGBK) Stock Price Down 5.5% – Here’s What Happened

AGI Inc (NYSE:AGBK) shares dropped 5.5% on Wednesday . The company traded as low as $7.57 and last traded at $7.7740. Approximately 343,961 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 613,904 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

AGBK has been the topic of several research analyst reports. Oppenheimer assumed coverage on shares of AGI in a report on Monday, March 9th. They issued an “outperform” rating and a $15.00 price target on the stock. Morgan Stanley started coverage on shares of AGI in a research report on Monday, March 9th. They set an “overweight” rating and a $21.00 target price for the company. Zacks Research upgraded AGI to a “hold” rating in a research note on Tuesday, March 10th. Susquehanna began coverage on AGI in a research note on Monday, March 9th. They issued a “positive” rating and a $17.00 target price on the stock. Finally, Wall Street Zen raised AGI to a “hold” rating in a report on Saturday, February 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.14.

AGI Trading Down 5.3%

AGI (NYSE:AGBK) last issued its quarterly earnings results on Monday, March 23rd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.22). The firm had revenue of $547.80 million for the quarter, compared to analysts’ expectations of $541.66 million.

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.