Close Brothers Group (LON:CBG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 282.45 ($3.76) and traded as high as GBX 302.40 ($4.02). Close Brothers Group shares last traded at GBX 295.40 ($3.93), with a volume of 487,791 shares.

Wall Street Analysts Forecast Growth

CBG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Close Brothers Group from GBX 610 ($8.11) to GBX 600 ($7.98) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a GBX 430 ($5.72) price target on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Stock Down 1.2 %

The firm’s 50-day moving average price is GBX 306.82 and its two-hundred day moving average price is GBX 282.45. The firm has a market capitalization of £445.06 million, a PE ratio of 4.45, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last posted its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.41) earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Equities research analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael N. Biggs acquired 5,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of GBX 288 ($3.83) per share, for a total transaction of £14,400 ($19,146.39). Company insiders own 2.91% of the company’s stock.

Close Brothers Group Company Profile

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.