Paragon Banking Group (LON:PAG) Announces Share Repurchase Program

Paragon Banking Group (LON:PAG) declared that its board has authorized a stock repurchase program on Monday, July 6th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Paragon Banking Group Trading Down 0.4%

PAG traded down GBX 3 during trading on Tuesday, hitting GBX 784. 492,208 shares of the stock traded hands, compared to its average volume of 1,390,141. The firm has a market capitalization of £1.45 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. Paragon Banking Group has a 12-month low of GBX 681.50 and a 12-month high of GBX 981. The company has a debt-to-equity ratio of 163.38, a current ratio of 16.10 and a quick ratio of 1.48. The firm has a 50-day moving average of GBX 752.68 and a 200 day moving average of GBX 801.77.

Paragon Banking Group (LON:PAG) last released its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share for the quarter. The business had revenue of £259.20 million for the quarter. Paragon Banking Group had a net margin of 14.98% and a return on equity of 11.98%. Equities research analysts anticipate that Paragon Banking Group will post 104.0245566 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on PAG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,050 target price on shares of Paragon Banking Group in a research note on Wednesday, June 3rd. UBS Group reissued a “buy” rating and set a GBX 1,035 price target on shares of Paragon Banking Group in a research note on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,000 price objective on shares of Paragon Banking Group in a research note on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 1,100 target price on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Paragon Banking Group currently has a consensus rating of “Buy” and a consensus target price of GBX 1,040.17.

About Paragon Banking Group

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.
Its operations are organised into two lending divisions and lending is funded largely by retail deposits.