AGI (NYSE:AGBK) Hits New 12-Month Low – Here’s What Happened

Shares of AGI Inc (NYSE:AGBK) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.51 and last traded at $7.6970, with a volume of 1498946 shares trading hands. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Zacks Research raised shares of AGI to a “hold” rating in a research note on Tuesday, March 10th. Morgan Stanley began coverage on shares of AGI in a research note on Monday, March 9th. They issued an “overweight” rating and a $21.00 target price for the company. HSBC initiated coverage on AGI in a research report on Thursday, March 5th. They set a “buy” rating and a $15.00 price target on the stock. Susquehanna started coverage on AGI in a report on Monday, March 9th. They set a “positive” rating and a $17.00 price target for the company. Finally, Wall Street Zen upgraded AGI to a “hold” rating in a research report on Saturday, February 21st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.14.

AGI Stock Performance

AGI (NYSE:AGBK) last announced its earnings results on Monday, March 23rd. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.22). The business had revenue of $547.80 million for the quarter, compared to the consensus estimate 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.