Paragon Banking Group (LON:PAG) Rating Lowered to "Hold" at Shore Capital

Key Points

• Paragon Banking Group has been downgraded to a "hold" rating by Shore Capital with a price target of GBX 975 ($13.03), reflecting a potential upside of 12.07% from its previous close.
• Canaccord Genuity Group has also raised its price target for Paragon shares to GBX 1,001 ($13.37) and maintains a "buy" rating.
• Recent insider trading includes Richard Woodman purchasing 1,739 shares and Hugo Tudor selling 5,000 shares, indicating continued interest from management in the company's stock.

Paragon Banking Group (LON:PAG - Get Free Report) was downgraded by equities research analysts at Shore Capital to a "hold" rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a GBX 975 ($12.94) target price on the stock. Shore Capital's price target suggests a potential upside of 9.55% from the stock's previous close.

Separately, Canaccord Genuity Group boosted their target price on shares of Paragon Banking Group from GBX 958 ($12.72) to GBX 1,001 ($13.29) and gave the stock a "buy" rating in a research report on Thursday, July 3rd.

Paragon Banking Group Price Performance

Shares of LON PAG traded down GBX 15.50 ($0.21) during trading on Tuesday, hitting GBX 890 ($11.81). 193,308 shares of the company were exchanged, compared to its average volume of 688,329. The company has a market cap of £1.78 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.50 and a beta of 1.52. Paragon Banking Group has a 1 year low of GBX 650.50 ($8.63) and a 1 year high of GBX 981 ($13.02). The firm's fifty day moving average price is GBX 920.79 and its 200 day moving average price is GBX 830.42.

Insider Buying and Selling

In other Paragon Banking Group news, insider Richard Woodman acquired 1,739 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of GBX 941 ($12.49) per share, for a total transaction of £16,363.99 ($21,720.19). Also, insider Hugo Tudor sold 5,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of GBX 950 ($12.61), for a total transaction of £47,500 ($63,047.52). Insiders own 3.59% of the company's stock.

Paragon Banking Group Company Profile

Paragon is a specialist banking group. It offers a range of savings accounts and provide finance for landlords and small and medium-sized businesses (‘SMEs') and residential property developers in the UK. Founded in 1985 and listed on the London Stock Exchange, it is a FTSE-250 company. Headquartered in Solihull, it employs more than 1,400 people.