Close Brothers Group (LON:CBG) Shares Up 5.9% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CBG. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a GBX 430 ($5.58) target price on shares of Close Brothers Group in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, March 18th.

Close Brothers Group Stock Performance

The stock’s 50-day simple moving average is GBX 317.69 and its 200-day simple moving average is GBX 295.72. The firm has a market capitalization of £448.76 million, a PE 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 quarterly 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 net margin of 7.79% and a return on equity of 5.78%. As a group, analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Buying and Selling

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