Close Brothers Group (LON:CBG) Shares Up 21.3% – What’s Next?

Close Brothers Group plc (LON:CBG) shares traded up 21.3% during mid-day trading on Wednesday . The stock traded as high as GBX 479.80 and last traded at GBX 472.48. 6,008,954 shares traded hands during trading, an increase of 46% from the average session volume of 4,125,316 shares. The stock had previously closed at GBX 389.60.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group raised Close Brothers Group to a “buy” rating and set a GBX 555 target price on the stock in a research note on Friday, March 27th. Shore Capital Group raised shares of Close Brothers Group to a “buy” rating in a research report on Friday, March 20th. Royal Bank Of Canada raised shares of Close Brothers Group to an “outperform” rating and increased their price target for the stock from GBX 475 to GBX 625 in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Close Brothers Group from GBX 550 to GBX 570 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Close Brothers Group has a consensus rating of “Moderate Buy” and an average target price of GBX 505.

Close Brothers Group Stock Performance

The company has a market cap of £684.09 million, a price-to-earnings ratio of -12.87, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The business has a 50-day simple moving average of GBX 446.23 and a 200-day simple moving average of GBX 461.71.

Close Brothers Group (LON:CBG) last posted its quarterly earnings results on Tuesday, March 17th. The company reported GBX 27.10 earnings per share (EPS) for the quarter. Close Brothers Group had a negative return on equity of 2.03% and a negative net margin of 4.66%. Research analysts anticipate that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan purchased 2,841 shares of Close Brothers Group stock in a transaction on Monday, January 12th. The shares were bought at an average price of GBX 507 per share, with a total value of £14,403.87. 2.19% of the stock is owned by corporate insiders.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.