Paragon Banking Group (LON:PAG) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Paragon Banking Group shares rose above their 200-day moving average, reaching GBX 846.50 before last trading at GBX 830, compared with the 200-day average of GBX 793.11.
• Analysts remain bullish: five analysts rate the stock a Buy, with an average price target of GBX 1,048. Targets from UBS, Jefferies, RBC and Deutsche Bank range from GBX 1,000 to GBX 1,100.
• The company reported quarterly earnings of GBX 52.10 per share and £259.20 million in revenue, while maintaining a net margin of 14.98% and return on equity of 11.98%.

Paragon Banking Group PLC (LON:PAG - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 793.11 and traded as high as GBX 846.50. Paragon Banking Group shares last traded at GBX 830, with a volume of 286,612 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a "buy" rating and set a GBX 1,035 price target on shares of Paragon Banking Group in a research report on Friday, May 29th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 1,000 price objective on shares of Paragon Banking Group in a research report on Wednesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 1,050 target price on shares of Paragon Banking Group in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 1,100 target price on shares of Paragon Banking Group in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of GBX 1,048.

Paragon Banking Group Price Performance

The business's 50 day moving average price is GBX 784.70 and its 200-day moving average price is GBX 793.11. The company has a quick ratio of 1.48, a current ratio of 16.10 and a debt-to-equity ratio of 163.38. The company has a market cap of £1.53 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19.

Paragon Banking Group (LON:PAG - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share for the quarter. The business had revenue of £259.20 million during the quarter. Paragon Banking Group had a net margin of 14.98% and a return on equity of 11.98%. As a group, analysts forecast that Paragon Banking Group PLC will post 104.0245566 earnings per share for the current year.

Paragon Banking Group declared that its Board of Directors has approved a share repurchase program on Monday, July 6th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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. Its operations are organised into two lending divisions and lending is funded largely by retail deposits.

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