Paragon Banking Group (LON:PAG) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Paragon Banking Group shares moved above their 200-day moving average, trading as high as GBX 815.25 and last changing hands near GBX 814.50, up about 0.8% on the day.
• Several analysts remain upbeat on the stock, with firms including RBC, UBS, Jefferies, and Deutsche Bank reiterating buy/outperform ratings and setting price targets between GBX 1,000 and GBX 1,100.
• The company recently reported quarterly EPS of GBX 52.10 and revenue of £259.2 million, and its board also authorized a share buyback program, which can signal management believes the stock is undervalued.

Paragon Banking Group PLC (LON:PAG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 796.71 and traded as high as GBX 815.25. Paragon Banking Group shares last traded at GBX 814.50, with a volume of 402,041 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on PAG shares. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 1,050 price target on shares of Paragon Banking Group in a research report on Wednesday, June 3rd. UBS Group reaffirmed a "buy" rating and set a GBX 1,035 price objective on shares of Paragon Banking Group in a report on Friday, May 29th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 1,000 target price on shares of Paragon Banking Group in a research note on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 1,100 target price on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of GBX 1,040.17.

Paragon Banking Group Stock Up 0.8%

The company has a debt-to-equity ratio of 163.38, a current ratio of 16.10 and a quick ratio of 1.48. The stock has a market cap of £1.51 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. The firm has a 50 day simple moving average of GBX 765.76 and a two-hundred day simple moving average of GBX 796.71.

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

Paragon Banking Group declared that its board has authorized a stock repurchase program on Monday, July 6th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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

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