Close Brothers Group (LON:CBG) Shares Up 23.5% - Time to Buy?

Key Points

• Close Brothers Group plc's stock surged by 23.5% during mid-day trading, reaching a last traded price of GBX 491.40 ($6.53) after a significant increase in trading volume.
• Analyst ratings for Close Brothers Group show a consensus of three buy and three hold ratings, with a moderate buy consensus and a target price of GBX 468.33 ($6.22).
• The firm provides a variety of financial services in the UK, including banking services for small businesses and individuals across five segments such as Commercial and Retail.

Close Brothers Group plc (LON:CBG - Get Free Report) shares traded up 23.5% during trading on Monday . The stock traded as high as GBX 533 ($7.09) and last traded at GBX 491.40 ($6.53). 8,181,824 shares changed 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).

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Peel Hunt reiterated a "hold" rating and issued a GBX 327 ($4.35) target price on shares of Close Brothers Group in a research report on Friday, July 25th. Shore Capital reiterated a "hold" rating and issued a GBX 370 ($4.92) target price on shares of Close Brothers Group in a research report on Friday, July 25th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 463 ($6.16) target price on shares of Close Brothers Group in a research report on Monday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 468.33 ($6.23).

Close Brothers Group Stock Performance

The firm has a market cap of £782.69 million, a P/E ratio of 7.83, a P/E/G ratio of 1.87 and a beta of 0.82. The firm has a fifty day moving average of GBX 382.63 and a 200-day moving average of GBX 339.

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.