Paragon Banking Group (LON:PAG) Reaches New 52-Week High - Here's Why

Key Points

• Paragon Banking Group PLC reached a new 52-week high of GBX 981 ($13.18) during trading, reflecting significant market interest.
• Analysts have shown increased confidence, with Canaccord Genuity raising their price target to GBX 1,001 ($13.45) and maintaining a "buy" rating.
• Insider activity includes the sale of 5,000 shares by Hugo Tudor and the purchase of 1,739 shares by Richard Woodman, demonstrating mixed signals from company executives.

Shares of Paragon Banking Group PLC (LON:PAG - Get Free Report) hit a new 52-week high on Monday . The company traded as high as GBX 981 ($13.01) and last traded at GBX 968.99 ($12.85), with a volume of 40086 shares changing hands. The stock had previously closed at GBX 959.50 ($12.72).

Analyst Ratings Changes

PAG has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 975 ($12.93) target price on shares of Paragon Banking Group in a report on Wednesday. Shore Capital lowered Paragon Banking Group to a "hold" rating and set a GBX 975 ($12.93) target price for the company. in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on Paragon Banking Group from GBX 958 ($12.70) to GBX 1,001 ($13.27) and gave the company a "buy" rating in a research note on Thursday, July 3rd.

Paragon Banking Group Stock Up 2.0%

The stock has a 50-day simple moving average of GBX 920.59 and a two-hundred day simple moving average of GBX 827.22. The firm has a market cap of £1.81 billion, a PE ratio of 9.77, a P/E/G ratio of 0.50 and a beta of 1.52.

Insider Buying and Selling

In related news, insider Hugo Tudor sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of GBX 950 ($12.60), for a total transaction of £47,500 ($62,980.64). Also, insider Richard Woodman bought 1,739 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of GBX 941 ($12.48) per share, for a total transaction of £16,363.99 ($21,697.15). 3.59% of the stock is owned by 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.