Numis Securities Ltd Upgrades Close Brothers Group plc (CBG) to “Add”
Close Brothers Group plc (LON:CBG) was upgraded by research analysts at Numis Securities Ltd to an “add” rating in a research note issued to investors on Wednesday. The brokerage currently has a GBX 1,619 ($21.13) price objective on the stock. Numis Securities Ltd’s price objective points to a potential upside of 17.49% from the company’s current price.
Other research analysts also recently issued reports about the company. Peel Hunt downgraded Close Brothers Group plc to an “add” rating and set a GBX 1,600 ($20.89) price target on the stock. in a research note on Tuesday. Liberum Capital reissued a “buy” rating and issued a GBX 1,184 ($15.45) price objective on shares of Close Brothers Group plc in a research note on Thursday, July 21st. Citigroup Inc. reissued a “buy” rating on shares of Close Brothers Group plc in a research note on Tuesday, September 13th. Barclays PLC reissued an “equal weight” rating on shares of Close Brothers Group plc in a research note on Thursday, June 16th. Finally, Panmure Gordon reissued a “hold” rating and issued a GBX 1,500 ($19.58) price objective on shares of Close Brothers Group plc in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of GBX 1,472.33 ($19.22).
Close Brothers Group plc (LON:CBG) opened at 1353.00 on Wednesday. Close Brothers Group plc has a 1-year low of GBX 975.00 and a 1-year high of GBX 1,569.00. The firm has a 50-day moving average price of GBX 1,380.51 and a 200 day moving average price of GBX 1,269.87. The firm’s market cap is GBX 2.01 billion.
The firm also recently declared a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Thursday, October 13th will be given a dividend of GBX 38 ($0.50) per share. This represents a dividend yield of 2.76%. This is an increase from Close Brothers Group plc’s previous dividend of $19.00. The ex-dividend date of this dividend is Thursday, October 13th.
In related news, insider Elizabeth Lee sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of GBX 1,417 ($18.50), for a total transaction of £283,400 ($369,925.60).
Close Brothers Group plc Company Profile
Close Brothers Group plc is a United Kingdom-based merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three divisions: banking, which provides a range of lending products to the United Kingdom small and medium enterprises (SMEs), as well as installment payment solutions to the United Kingdom retail borrowers; securities, which provides dealing and execution services to financial institutions through Winterflood, and asset management, which provides wealth management service for individuals, incorporating both financial planning advice and investment management.
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