Vanquis Banking Group (LON:VANQ) Stock Price Down 24.1% on Analyst Downgrade

Vanquis Banking Group plc (LON:VANQGet Free Report)’s stock price dropped 24.1% during mid-day trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 165 to GBX 145. Berenberg Bank currently has a buy rating on the stock. Vanquis Banking Group traded as low as GBX 82 and last traded at GBX 87.40. 12,719,925 shares were traded during mid-day trading, an increase of 1,283% from the average daily volume of 919,853 shares. The stock had previously closed at GBX 115.20.

Separately, Shore Capital Group reissued a “buy” rating on shares of Vanquis Banking Group in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 142.50.

View Our Latest Research Report on VANQ

Insider Activity

In other Vanquis Banking Group news, insider Dave Watts purchased 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average cost of GBX 85 per share, with a total value of £38,250. Over the last three months, insiders purchased 45,394 shares of company stock worth $3,870,041. 3.68% of the stock is currently owned by company insiders.

Vanquis Banking Group Price Performance

The firm has a market capitalization of £218.79 million, a P/E ratio of 28.19 and a beta of 1.23. The firm has a 50-day moving average price of GBX 113.80 and a two-hundred day moving average price of GBX 115.13.

Vanquis Banking Group (LON:VANQGet Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported GBX 1.80 EPS for the quarter. Vanquis Banking Group had a net margin of 1.87% and a return on equity of 1.89%. Sell-side analysts predict that Vanquis Banking Group plc will post 4.1557331 earnings per share for the current fiscal year.

About Vanquis Banking Group

(Get Free Report)

We’re Vanquis Banking Group plc, an FTSE All Share company and a leading specialist bank, established in 1880. We lend responsibly, providing tailored products and services to 1.75 million UK customers through Vanquis, Moneybarn, and Snoop.

https://www.vanquisbankinggroup.com/shareholder-hub/investment-case/

Further Reading

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