Close Brothers Group (LON:CBG) Stock Price Up 5.9% – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price was up 5.9% during trading on Thursday . The stock traded as high as GBX 293 ($3.80) and last traded at GBX 292.80 ($3.80). Approximately 442,840 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,359,436 shares. The stock had previously closed at GBX 276.40 ($3.59).

Analysts Set New Price Targets

CBG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a report on Thursday, February 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a GBX 430 ($5.58) target price on shares of Close Brothers Group in a report on Thursday, March 27th. Finally, Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, March 18th.

Close Brothers Group Price Performance

The company’s 50-day moving average price is GBX 317.69 and its 200-day moving average price is GBX 295.72. The company has a market cap of £448.76 million, a P/E ratio of 4.49, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last released its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share (EPS) for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, equities research analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Michael N. Biggs bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of GBX 288 ($3.74) per share, with a total value of £14,400 ($18,698.87). Company insiders own 2.91% of the company’s stock.

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.