Close Brothers Group (LON:CBG) Trading 5.9% Higher – Here’s Why

Close Brothers Group plc (LON:CBG) shares rose 5.9% during mid-day trading on Thursday . The stock traded as high as GBX 293 ($3.78) and last traded at GBX 292.80 ($3.78). Approximately 442,840 shares changed hands during trading, a decline of 81% from the average daily volume of 2,359,436 shares. The stock had previously closed at GBX 276.40 ($3.57).

Analyst Ratings Changes

A number of equities research analysts have recently commented on CBG shares. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft dropped their price target on Close Brothers Group from GBX 610 ($7.87) to GBX 600 ($7.74) and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a GBX 430 ($5.55) price objective on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Stock Performance

The firm’s 50 day moving average price is GBX 316.65 and its two-hundred day moving average price is GBX 295.45. The firm has a market cap of £401.36 million, a PE ratio of 4.01, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last posted 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, analysts forecast that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Activity at Close Brothers Group

In other news, insider Michael N. Biggs bought 5,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.72) per share, with a total value of £14,400 ($18,575.85). 2.91% of the stock is owned by insiders.

About Close Brothers Group

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.