Canaccord Genuity Upgrades Paragon Banking Group (PAG) to Buy

Paragon Banking Group (LON:PAG) was upgraded by Canaccord Genuity to a “buy” rating in a research note issued on Monday. The brokerage currently has a GBX 550 ($7.60) target price on the stock, up from their prior target price of GBX 500 ($6.91). Canaccord Genuity’s price objective suggests a potential upside of 14.87% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Peel Hunt reissued an “add” rating and set a GBX 510 ($7.05) price target on shares of Paragon Banking Group in a research report on Thursday, November 23rd. Liberum Capital reissued a “buy” rating and set a GBX 490 ($6.77) price target on shares of Paragon Banking Group in a research report on Friday, January 12th. Shore Capital reissued a “buy” rating on shares of Paragon Banking Group in a research report on Thursday, November 23rd. Barclays reissued an “equal weight” rating and set a GBX 490 ($6.77) price target on shares of Paragon Banking Group in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a GBX 415 ($5.73) price target on shares of Paragon Banking Group in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 491 ($6.78).

Paragon Banking Group (PAG) traded up GBX 10.80 ($0.15) during trading on Monday, hitting GBX 478.80 ($6.62). 774,028 shares of the company’s stock were exchanged, compared to its average volume of 699,904. Paragon Banking Group has a 12-month low of GBX 400.30 ($5.53) and a 12-month high of GBX 555.99 ($7.68). The company has a market capitalization of $1,260.00 and a price-to-earnings ratio of 1,140.00.

In related news, insider Alan Fletcher sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of GBX 495 ($6.84), for a total transaction of £148,500 ($205,167.17). Also, insider Hugo Tudor sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 23rd. The stock was sold at an average price of GBX 105 ($1.45), for a total transaction of £210,000 ($290,135.40). Insiders have sold 319,525 shares of company stock valued at $79,182,950 in the last 90 days.

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Paragon Banking Group Company Profile

Paragon Banking Group PLC, formerly The Paragon Group of Companies PLC, is engaged in financial services business. The Company operates as an independent buy-to-let lender, and as a debt purchaser through its Idem Capital division, where it purchases, co-manages and services secured and unsecured consumer loan portfolios.

Analyst Recommendations for Paragon Banking Group (LON:PAG)

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