Close Brothers Group (LON:CBG) Stock Price Up 23.5% - Here's Why

Key Points

• The stock price of Close Brothers Group plc increased by 23.5% on Monday, reaching a recent price of GBX 491.40 ($6.53), significantly up from GBX 397.80 ($5.29).
• Analyst ratings for Close Brothers vary, with three firms maintaining a "hold" rating and three issuing a "buy" rating, resulting in a consensus rating of "Moderate Buy".
• Close Brothers Group operates in the financial services sector in the UK, offering a range of services including banking, insurance, and asset management to small businesses and individuals.

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price shot up 23.5% on Monday . The company traded as high as GBX 533 ($7.08) and last traded at GBX 491.40 ($6.53). 8,181,824 shares traded hands during mid-day trading, an increase of 411% from the average session volume of 1,600,735 shares. The stock had previously closed at GBX 397.80 ($5.29).

Wall Street Analyst Weigh In

CBG has been the subject of a number of recent analyst reports. Peel Hunt restated a "hold" rating and set a GBX 327 ($4.35) price objective on shares of Close Brothers Group in a research note on Friday, July 25th. Shore Capital reiterated a "hold" rating and set a GBX 370 ($4.92) target price on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 ($6.15) price target on shares of Close Brothers Group in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 468.33 ($6.22).

Close Brothers Group Trading Up 23.5%

The firm has a market capitalization of £740.35 million, a PE ratio of 7.40, a PEG ratio of 1.87 and a beta of 0.82. The firm's fifty day moving average price is GBX 379.02 and its 200 day moving average price is GBX 337.70.

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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