Close Brothers Group (LON:CBG) Shares Up 7.5% - Here's Why

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) shot up 7.5% during trading on Tuesday . The stock traded as high as GBX 367.80 ($4.97) and last traded at GBX 360 ($4.86). 1,232,797 shares were traded during mid-day trading, a decline of 34% from the average session volume of 1,878,098 shares. The stock had previously closed at GBX 335 ($4.52).

Analyst Ratings Changes

CBG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Close Brothers Group from GBX 610 ($8.24) to GBX 600 ($8.10) and set a "hold" rating on the stock in a report on Thursday, February 13th. Shore Capital reissued a "buy" rating on shares of Close Brothers Group in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a GBX 430 ($5.81) price objective on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Stock Performance

The stock has a market cap of £542.68 million, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The firm's fifty day simple moving average is GBX 319.58 and its 200-day simple moving average is GBX 292.08.

Close Brothers Group (LON:CBG - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.42) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Activity at Close Brothers Group

In other news, insider Michael N. Biggs bought 5,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of GBX 288 ($3.89) per share, for a total transaction of £14,400 ($19,441.07). 2.91% of the stock is currently owned by insiders.

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.