Paragon Banking Group (LON:PAG) Stock Crosses Above 200 Day Moving Average – Here’s Why

Paragon Banking Group PLC (LON:PAG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 796.71 and traded as high as GBX 815.25. Paragon Banking Group shares last traded at GBX 814.50, with a volume of 402,041 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on PAG shares. UBS Group restated a “buy” rating and issued a GBX 1,035 price objective on shares of Paragon Banking Group in a research report on Friday, May 29th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,000 target price on shares of Paragon Banking Group in a report on Tuesday, June 2nd. Royal Bank Of Canada reissued 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,100 price target on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Paragon Banking Group currently has an average rating of “Buy” and a consensus price target of GBX 1,040.17.

Paragon Banking Group Trading Up 0.8%

The company has a market cap of £1.51 billion, a P/E ratio of 9.05, a PEG ratio of 0.50 and a beta of 1.19. The company has a current ratio of 16.10, a quick ratio of 1.48 and a debt-to-equity ratio of 163.38. The business has a 50 day moving average price of GBX 765.76 and a 200-day moving average price of GBX 796.71.

Paragon Banking Group (LON:PAG) last released its 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 during the quarter. Paragon Banking Group had a net margin of 14.98% and a return on equity of 11.98%. Analysts forecast that Paragon Banking Group PLC will post 104.0245566 earnings per share for the current fiscal year.

Paragon Banking Group announced that its board has initiated a stock buyback program on Monday, July 6th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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