Paragon Banking Group (LON:PAG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Paragon Banking Group PLC (LON:PAG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 787.20 and traded as high as GBX 826. Paragon Banking Group shares last traded at GBX 815, with a volume of 105,808 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,000 price target on shares of Paragon Banking Group in a research report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 1,050 price objective on shares of Paragon Banking Group in a research note on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a GBX 1,035 target price on shares of Paragon Banking Group in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,100 target price on shares of Paragon Banking Group in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 1,048.

Paragon Banking Group Price Performance

The business has a 50 day simple moving average of GBX 803.69 and a two-hundred day simple moving average of GBX 786.55. The firm has a market capitalization of £1.48 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 0.50 and a beta of 1.20. The company has a debt-to-equity ratio of 163.38, a quick ratio of 1.48 and a current ratio of 16.10.

Paragon Banking Group (LON:PAG) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share (EPS) for the quarter. The firm had revenue of £259.20 million during the quarter. Paragon Banking Group had a return on equity of 11.98% and a net margin of 14.98%. On average, sell-side analysts expect that Paragon Banking Group PLC will post 104.0245566 EPS for the current fiscal year.

Paragon Banking Group declared that its board has approved a share buyback program on Monday, July 6th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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.