Paragon Banking Group (LON:PAG) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Paragon Banking Group's stock has surpassed its 200-day moving average of GBX 861.12, trading as high as GBX 898 recently.
• Analysts have varied opinions on the stock, with target prices ranging from GBX 975 to GBX 1,015, and an average rating of "Moderate Buy."
• Insider activity includes Richard Woodman purchasing 1,739 shares at GBX 941, while Hugo Tudor sold 5,000 shares at GBX 950, indicating mixed insider sentiment.

Paragon Banking Group PLC (LON:PAG - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 861.12 ($11.64) and traded as high as GBX 898 ($12.14). Paragon Banking Group shares last traded at GBX 881 ($11.91), with a volume of 229,915 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PAG. Jefferies Financial Group upped their price target on Paragon Banking Group from GBX 930 to GBX 1,015 and gave the stock a "hold" rating in a research note on Tuesday, August 26th. Shore Capital downgraded shares of Paragon Banking Group to a "hold" rating and set a GBX 975 target price on the stock. in a research report on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 975 price target on shares of Paragon Banking Group in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a GBX 1,001 price objective on shares of Paragon Banking Group in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 991.50.

Paragon Banking Group Trading Up 0.6%

The stock's 50 day moving average is GBX 905.99 and its 200-day moving average is GBX 864.89. The company has a market cap of £1.68 billion, a P/E ratio of 910.36, a PEG ratio of 0.50 and a beta of 1.52.

Insider Transactions at Paragon Banking Group

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, for a total transaction of £47,500. Also, insider Richard Woodman acquired 1,739 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of GBX 941 per share, with a total value of £16,363.99. Insiders own 1.97% of the company's stock.

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.