Share Repurchase Plan Approved by Paragon Banking Group (LON:PAG) Board of Directors

Paragon Banking Group (LON:PAG) declared that its Board of Directors has initiated a stock repurchase program on Monday, July 6th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Paragon Banking Group Price Performance

Shares of LON:PAG traded down GBX 3 on Tuesday, hitting GBX 784. The company had a trading volume of 492,208 shares, compared to its average volume of 1,390,141. The company has a current ratio of 16.10, a quick ratio of 1.48 and a debt-to-equity ratio of 163.38. The company has a market cap of £1.45 billion, a PE ratio of 8.71, a PEG ratio of 0.50 and a beta of 1.19. Paragon Banking Group has a 52-week low of GBX 681.50 and a 52-week high of GBX 981. The business has a 50 day moving average of GBX 752.68 and a 200 day moving average of GBX 801.77.

Paragon Banking Group (LON:PAG) last announced its earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share for the quarter. The firm had revenue of £259.20 million during the quarter. Paragon Banking Group had a net margin of 14.98% and a return on equity of 11.98%. As a group, equities analysts anticipate that Paragon Banking Group will post 104.0245566 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PAG has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 1,050 target price on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,000 price objective on shares of Paragon Banking Group in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,100 target price on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Finally, UBS Group restated a “buy” rating and set a GBX 1,035 target price on shares of Paragon Banking Group in a research report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 1,040.17.

About Paragon Banking Group

Paragon is a specialist banking group. It offers a range of savings accounts and provide finance for landlords and small
and medium-sized businesses (‘SMEs’) and residential property developers in the UK. Founded in 1985 and listed on the
London Stock Exchange, it is a FTSE-250 company. Headquartered in Solihull, it employs more than 1,400 people.
Its operations are organised into two lending divisions and lending is funded largely by retail deposits.