Paragon Banking Group (LON:PAG) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Paragon Banking Group PLC (LON:PAG - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 807.48 ($10.89) and traded as high as GBX 953 ($12.86). Paragon Banking Group shares last traded at GBX 950 ($12.82), with a volume of 218,689 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group boosted their price target on Paragon Banking Group from GBX 958 ($12.92) to GBX 1,001 ($13.50) and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Shore Capital restated a "buy" rating on shares of Paragon Banking Group in a research note on Wednesday, June 4th.

Paragon Banking Group Trading Down 0.5%

The firm has a market capitalization of £1.89 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.50 and a beta of 1.52. The firm has a fifty day moving average price of GBX 905.14 and a 200 day moving average price of GBX 807.48.

Insider Activity

In related news, insider Nigel S. Terrington purchased 2,753 shares of Paragon Banking Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of GBX 941 ($12.69) per share, for a total transaction of £25,905.73 ($34,946.35). Also, insider Richard Woodman purchased 1,739 shares of Paragon Banking Group stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of GBX 941 ($12.69) per share, for a total transaction of £16,363.99 ($22,074.72). 3.59% of the stock is owned by corporate 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.