Paragon Banking Group (LON:PAG) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Paragon Banking Group PLC (LON:PAG)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 772.98 and traded as low as GBX 692.50. Paragon Banking Group shares last traded at GBX 704, with a volume of 147,606 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAG. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 1,050 price objective on shares of Paragon Banking Group in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,070 target price on shares of Paragon Banking Group in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 1,100 price objective 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, Paragon Banking Group presently has a consensus rating of “Buy” and a consensus price target of GBX 1,062.

Paragon Banking Group Price Performance

The company has a market capitalization of £1.27 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 0.50 and a beta of 1.19. The company has a current ratio of 16.10, a quick ratio of 1.48 and a debt-to-equity ratio of 163.38. The company’s 50 day simple moving average is GBX 778.68 and its 200-day simple moving average is GBX 772.79.

Paragon Banking Group announced that its Board of Directors has initiated a share buyback program on Monday, July 6th that permits the company to buy back 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are 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.