Paragon Banking Group PLC (LON:PAG) shares rose 8.2% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as GBX 447 ($5.84) and last traded at GBX 445.20 ($5.82). Approximately 795,554 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 729,645 shares. The stock had previously closed at GBX 411.40 ($5.38).

The company reported GBX 48.20 ($0.63) earnings per share for the quarter, beating the consensus estimate of GBX 46 ($0.60) by GBX 2.20 ($0.03).

The company also recently disclosed a dividend, which will be paid on Monday, February 18th. Investors of record on Thursday, January 10th will be paid a GBX 13.90 ($0.18) dividend. This is an increase from Paragon Banking Group’s previous dividend of $5.50. This represents a yield of 3.12%. The ex-dividend date of this dividend is Thursday, January 10th.

A number of brokerages have commented on PAG. Peel Hunt reiterated a “buy” rating on shares of Paragon Banking Group in a report on Wednesday. Shore Capital reiterated a “buy” rating on shares of Paragon Banking Group in a report on Wednesday. Royal Bank of Canada cut Paragon Banking Group to a “sector performer” rating and increased their target price for the company from GBX 370 ($4.83) to GBX 500 ($6.53) in a report on Friday, September 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 641 ($8.38) target price on shares of Paragon Banking Group in a report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 534.60 ($6.99).

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Paragon Banking Group Company Profile (LON:PAG)

Paragon Banking Group PLC provides financial services in the United Kingdom. The company operates through three segments: Mortgages, Commercial Lending, and Idem Capital. The Mortgages segment offers buy-to-let first charge, and owner-occupied first and second charge mortgages on residential property.

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