Paragon Banking Group (LON:PAG) to Repurchase 0 Outstanding Stock

Paragon Banking Group (LON:PAG) declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 3rd, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Paragon Banking Group Stock Performance

LON PAG traded down GBX 58.06 during trading hours on Wednesday, hitting GBX 786.44. The company had a trading volume of 2,811,642 shares, compared to its average volume of 784,503. The firm has a market capitalization of £1.50 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.50 and a beta of 1.52. Paragon Banking Group has a 52 week low of GBX 650.50 and a 52 week high of GBX 981. The firm has a 50 day simple moving average of GBX 834.48 and a 200 day simple moving average of GBX 882.31.

Analysts Set New Price Targets

PAG has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on Paragon Banking Group from GBX 930 to GBX 1,015 and gave the company a “hold” rating in a research report on Tuesday, August 26th. Shore Capital raised shares of Paragon Banking Group to a “buy” rating and set a GBX 1,000 price objective on the stock in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Paragon Banking Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 997.75.

Insider Buying and Selling

In other news, insider Richard Woodman acquired 1,914 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was bought at an average cost of GBX 857 per share, for a total transaction of £16,402.98. Also, insider Nigel S. Terrington bought 3,030 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were purchased at an average cost of GBX 857 per share, for a total transaction of £25,967.10. 1.99% of the stock is currently owned by company insiders.

Paragon Banking Group Company Profile

Paragon is a specialist banking group. It offers a range of savings accounts and provide finance for landlords and small
and medium-sized businesses (‘SMEs’) and residential property developers in the UK. Founded in 1985 and listed on the
London Stock Exchange, it is a FTSE-250 company. Headquartered in Solihull, it employs more than 1,400 people.