Close Brothers Group (LON:CBG) Trading 21.4% Higher - Here's What Happened

Key Points

• Close Brothers Group shares surged by 21.4% during mid-day trading, hitting a high of GBX 533 ($7.08) before closing at GBX 482.80 ($6.41).
• Equities analysts have mixed opinions on the stock, with three hold ratings and three buy ratings, and a consensus rating of "Moderate Buy."
• The company's market capitalization stands at £726.19 million, with a price-to-earnings ratio of 7.26, indicating potential value in its stock price.

Close Brothers Group plc (LON:CBG - Get Free Report) shot up 21.4% during mid-day trading on Monday . The stock traded as high as GBX 533 ($7.08) and last traded at GBX 482.80 ($6.41). 51,785,996 shares changed hands during mid-day trading, an increase of 2,635% from the average session volume of 1,893,380 shares. The stock had previously closed at GBX 397.80 ($5.28).

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group restated a "buy" rating and set a GBX 463 ($6.15) target price on shares of Close Brothers Group in a research report on Monday. Shore Capital reaffirmed a "hold" rating and issued a GBX 370 ($4.91) price target on shares of Close Brothers Group in a research note on Friday, July 25th. Finally, Peel Hunt reaffirmed a "hold" rating and set a GBX 327 ($4.34) price target on shares of Close Brothers Group in a research report on Friday, July 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Close Brothers Group currently has a consensus rating of "Moderate Buy" and an average price target of GBX 468.33 ($6.22).

Close Brothers Group Price Performance

The firm's 50-day simple moving average is GBX 376.05 and its two-hundred day simple moving average is GBX 335.20. The company has a market capitalization of £726.19 million, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group Company Profile

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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