Share Buyback Program Approved by Paragon Banking Group (LON:PAG) Board

Paragon Banking Group (LON:PAG) announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 3rd, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Paragon Banking Group Stock Down 0.7%

Shares of Paragon Banking Group stock opened at GBX 781 on Friday. Paragon Banking Group has a 12-month low of GBX 650.50 and a 12-month high of GBX 981. The stock has a 50 day moving average price of GBX 833.07 and a two-hundred day moving average price of GBX 881.61. The stock has a market capitalization of £1.49 billion, a P/E ratio of 8.09, a PEG ratio of 0.50 and a beta of 1.52.

Analysts Set New Price Targets

Several equities analysts have issued reports on PAG shares. Shore Capital upgraded Paragon Banking Group to a “buy” rating and set a GBX 1,000 target price on the stock in a research report on Wednesday. Jefferies Financial Group lifted their price target on Paragon Banking Group from GBX 930 to GBX 1,015 and gave the company a “hold” rating in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada increased their price objective on Paragon Banking Group from GBX 975 to GBX 1,050 and gave the stock an “outperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paragon Banking Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,016.50.

Insider Buying and Selling at Paragon Banking Group

In other news, insider Nigel S. Terrington bought 30,280 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average price of GBX 785 per share, for a total transaction of £237,698. Also, insider Richard Woodman bought 18,436 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were purchased at an average cost of GBX 785 per share, with a total value of £144,722.60. Over the last ninety days, insiders have purchased 53,660 shares of company stock valued at $42,479,068. 1.99% of the stock is owned by insiders.

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.