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 public offering on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. During AGI’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports 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 Analysts Forecast Growth

Several equities research analysts recently weighed in on AGBK shares. HSBC started coverage on shares of AGI in a research note on Thursday, March 5th. They set a “buy” rating and a $15.00 target price on the stock. Wall Street Zen raised shares of AGI to a “hold” rating in a research report on Saturday, February 21st. The Goldman Sachs Group started coverage on shares of AGI in a research note on Monday, March 9th. They issued a “buy” rating and a $19.00 price target for the company. Citigroup started coverage on AGI in a research note on Monday, March 9th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Zacks Research upgraded AGI to a “hold” rating in a report on Tuesday, March 10th. 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 price target of $17.14.

AGI Stock Up 0.5%

AGBK stock opened at $9.34 on Monday. AGI has a fifty-two week low of $9.00 and a fifty-two week high of $12.21.

About AGI

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.