Paragon Banking Group (LON:PAG) Reaches New 12-Month High - Here's Why

Paragon Banking Group PLC (LON:PAG - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as GBX 868.25 ($11.55) and last traded at GBX 867.50 ($11.54), with a volume of 1593306 shares changing hands. The stock had previously closed at GBX 858 ($11.41).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a "buy" rating on shares of Paragon Banking Group in a research report on Thursday, April 10th.

Paragon Banking Group Price Performance

The business has a 50 day simple moving average of GBX 773.63 and a 200 day simple moving average of GBX 754.89. The company has a market cap of £1.78 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.50 and a beta of 1.52.

Paragon Banking Group Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 7th. Stockholders of record on Thursday, February 6th were paid a dividend of GBX 27.20 ($0.36) per share. This represents a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Paragon Banking Group's previous dividend of $13.20. Paragon Banking Group's dividend payout ratio is 43.17%.

Insider Buying and Selling

In other news, insider Richard Woodman sold 21,497 shares of Paragon Banking Group stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of GBX 778 ($10.35), for a total value of £167,246.66 ($222,491.23). Also, insider Peter Hill acquired 159 shares of Paragon Banking Group stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of GBX 740 ($9.84) per share, with a total value of £1,176.60 ($1,565.25). Insiders bought a total of 2,810 shares of company stock worth $2,082,024 over the last three months. 3.59% of the stock is currently owned by company insiders.

About Paragon Banking Group

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.