AGI (NYSE:AGBK) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

AGI (NYSE:AGBK) posted its quarterly earnings data on Wednesday. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05, Zacks reports.

AGI Stock Up 4.0%

NYSE AGBK traded up $0.21 during mid-day trading on Wednesday, reaching $5.31. The stock had a trading volume of 336,626 shares, compared to its average volume of 449,746. AGI has a 1 year low of $4.43 and a 1 year high of $12.21. The stock has a market cap of $848.59 million and a PE ratio of 8.99. The company has a fifty day moving average price of $6.19 and a 200 day moving average price of $7.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research downgraded AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Oppenheimer reduced their price target on AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. Finally, The Goldman Sachs Group set a $13.00 price target on AGI in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.14.

AGI announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 27th that permits the company to repurchase 3,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at AGI

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

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.