Royal Bank of Canada Cuts Close Brothers Group (OTCMKTS:CBGPY) Price Target to GBX 1,200

Close Brothers Group (OTCMKTS:CBGPY – Get Rating) had its target price cut by Royal Bank of Canada from GBX 1,250 ($15.23) to GBX 1,200 ($14.63) in a research note issued to investors on Wednesday morning, The Fly reports.

A number of other brokerages have also recently issued reports on CBGPY. JPMorgan Chase & Co. dropped their price target on shares of Close Brothers Group from GBX 1,120 ($13.65) to GBX 950 ($11.58) in a research note on Thursday, January 26th. Canaccord Genuity Group cut shares of Close Brothers Group from a buy rating to a sell rating in a research note on Wednesday, January 11th. Finally, Peel Hunt cut shares of Close Brothers Group to a hold rating in a research note on Friday, January 27th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Close Brothers Group has an average rating of Hold and an average price target of $1,122.50.

Close Brothers Group Stock Performance

Shares of CBGPY stock opened at $21.65 on Wednesday. The company’s fifty day moving average price is $24.52 and its 200-day moving average price is $24.05. Close Brothers Group has a 12 month low of $19.32 and a 12 month high of $32.71.

Close Brothers Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, May 11th. Shareholders of record on Monday, March 27th will be issued a dividend of $0.4932 per share. This represents a yield of 6.86%. The ex-dividend date is Friday, March 24th. Close Brothers Group’s dividend payout ratio (DPR) is currently 43.20%.

About Close Brothers Group

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Close Brothers Group Plc operates as a merchant banking group, which provides lending, deposit taking, securities trading and wealth management services. It operates through the following segments: Retail Finance, Commercial Finance, Property Finance, Securities, and Asset Management. The Retail Finance segment provides loans to predominantly retail customers, through a network of intermediaries.