Close Brothers Group (LON:CBG) Trading 9.2% Higher - Here's Why

Key Points

• Close Brothers Group shares rose by 9.2% during mid-day trading, reaching GBX 461 ($6.23) before settling at GBX 449.40 ($6.07).
• Equities analysts have mixed ratings, with Keefe, Bruyette & Woods maintaining an "outperform" rating and a price target of GBX 430 ($5.81), while Shore Capital has a "hold" rating with a price target of GBX 370 ($5.00).
• Close Brothers Group, a merchant banking company, provides a range of financial services including banking services, financing for SMEs, and asset management across various sectors.

Close Brothers Group plc (LON:CBG - Get Free Report) shares traded up 9.2% during mid-day trading on Friday . The stock traded as high as GBX 461 ($6.23) and last traded at GBX 449.40 ($6.07). 1,832,329 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 1,587,912 shares. The stock had previously closed at GBX 411.40 ($5.56).

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a GBX 430 ($5.81) price target on shares of Close Brothers Group in a research note on Thursday, March 27th. Shore Capital reissued a "hold" rating and issued a GBX 370 ($5.00) price target on shares of Close Brothers Group in a research note on Wednesday, July 9th.

Close Brothers Group Stock Up 5.4%

The company has a 50 day simple moving average of GBX 369.66 and a 200-day simple moving average of GBX 326.24. The stock has a market capitalization of £653.27 million, a price-to-earnings ratio of 6.53, 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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