Paragon Banking Group (LON:PAG) Cut 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 investment analysts at Shore Capital to a "hold" rating in a report released on Tuesday, MarketBeat reports. They presently have a GBX 975 ($12.93) price target on the stock. Shore Capital's price target would suggest a potential upside of 9.80% from the stock's current price.

Separately, Canaccord Genuity Group upped their target price on shares of Paragon Banking Group from GBX 958 ($12.70) to GBX 1,001 ($13.27) and gave the stock a "buy" rating in a research note on Thursday, July 3rd.

Paragon Banking Group Stock Up 1.5%

LON:PAG traded up GBX 13 ($0.17) on Tuesday, reaching GBX 888 ($11.77). 298,650 shares of the company's stock were exchanged, compared to its average volume of 693,967. The firm has a market capitalization of £1.78 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.50 and a beta of 1.52. The business has a fifty day moving average of GBX 920.59 and a 200-day moving average of GBX 827.22. Paragon Banking Group has a 52-week low of GBX 650.50 ($8.63) and a 52-week high of GBX 981 ($13.01).

Insider Activity at Paragon Banking Group

In other Paragon Banking Group news, insider Richard Woodman bought 1,739 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of GBX 941 ($12.48) per share, for a total transaction of £16,363.99 ($21,697.15). Also, insider Nigel S. Terrington bought 2,753 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of GBX 941 ($12.48) per share, for a total transaction of £25,905.73 ($34,348.62). 3.59% of the stock is currently owned by corporate insiders.

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.