Close Brothers Group (LON:CBG) Shares Up 5.9% – Here’s What Happened

Shares of Close Brothers Group plc (LON:CBG) rose 5.9% on Thursday . The stock traded as high as GBX 293 ($3.78) and last traded at GBX 292.80 ($3.78). Approximately 442,840 shares changed hands during trading, a decline of 81% from the average daily volume of 2,359,436 shares. The stock had previously closed at GBX 276.40 ($3.57).

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a GBX 430 ($5.55) price target on shares of Close Brothers Group in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered their price target on Close Brothers Group from GBX 610 ($7.87) to GBX 600 ($7.74) and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, March 18th.

Close Brothers Group Stock Performance

The company’s fifty day moving average is GBX 316.65 and its two-hundred day moving average is GBX 295.45. The firm has a market cap of £401.36 million, a price-to-earnings ratio of 4.01, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. As a group, analysts forecast that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael N. Biggs acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.72) per share, for a total transaction of £14,400 ($18,575.85). 2.91% of the stock is currently owned by corporate insiders.

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.