Close Brothers Group (LON:CBG) Stock Price Down 7.3% - Here's Why

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) were down 7.3% during trading on Wednesday . The company traded as low as GBX 373 ($5.07) and last traded at GBX 381.29 ($5.18). Approximately 812,827 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,682,652 shares. The stock had previously closed at GBX 411.20 ($5.59).

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CBG. Shore Capital reissued a "buy" rating on shares of Close Brothers Group in a report on Wednesday, May 21st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a GBX 430 ($5.85) target price on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Stock Down 5.6%

The company's 50-day moving average is GBX 352.74 and its 200-day moving average is GBX 312.65. The stock has a market cap of £584.87 million, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

About Close Brothers Group

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.

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