Close Brothers Group (LON:CBG) Stock Price Up 7.5% – What’s Next?

Close Brothers Group plc (LON:CBG) shares shot up 7.5% during mid-day trading on Wednesday . The company traded as high as GBX 367.80 ($5.01) and last traded at GBX 360 ($4.90). 1,232,797 shares were traded during trading, a decline of 34% from the average session volume of 1,878,098 shares. The stock had previously closed at GBX 335 ($4.56).

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CBG shares. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on Close Brothers Group from GBX 610 ($8.30) to GBX 600 ($8.17) and set a “hold” rating for the company in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a GBX 430 ($5.85) price objective on shares of Close Brothers Group in a report on Thursday, March 27th.

Close Brothers Group Stock Performance

The stock has a market capitalization of £536.36 million, a price-to-earnings ratio of 5.36, a P/E/G ratio of 1.87 and a beta of 0.82. The company has a 50 day moving average of GBX 323.26 and a 200 day moving average of GBX 293.56.

Close Brothers Group (LON:CBG) last released its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.42) earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, equities analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael N. Biggs acquired 5,000 shares of Close Brothers Group stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average cost of GBX 288 ($3.92) per share, for a total transaction of £14,400 ($19,605.17). Corporate insiders own 2.91% of the company’s stock.

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.