Paragon Banking Group (LON:PAG) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Paragon Banking Group PLC (LON:PAG) shares 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PAG shares. UBS Group restated 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. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,000 price target on shares of Paragon Banking Group in a report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 1,100 price target on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 1,050 price objective on shares of Paragon Banking Group in a research note on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 1,040.17.

Paragon Banking Group Stock Up 2.0%

The company has a market capitalization of £1.51 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.50 and a beta of 1.19. The business has a fifty day simple moving average of GBX 767.17 and a two-hundred day simple moving average of GBX 796.29. The company has a quick ratio of 1.48, a current ratio of 16.10 and a debt-to-equity ratio of 163.38.

Paragon Banking Group (LON:PAG) last issued its earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share (EPS) for the quarter. The business 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%. Equities analysts expect that Paragon Banking Group PLC will post 104.0245566 EPS for the current year.

Paragon Banking Group announced that its Board of Directors has authorized a share repurchase plan on Monday, July 6th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Paragon Banking Group

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.