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

Key Points

• Paragon Banking Group shares rose above their 200-day moving average, reaching GBX 838.50 and last trading at GBX 834.38, up 2.3%.
• Analysts maintain a broadly positive outlook: all five covering analysts rate the stock a Buy, with a consensus price target of GBX 1,048.
• The company reported quarterly EPS of GBX 52.10 on £259.20 million in revenue, with a 14.98% net margin and 11.98% return on equity.

Paragon Banking Group PLC (LON:PAG - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 790.78 and traded as high as GBX 838.50. Paragon Banking Group shares last traded at GBX 834.38, with a volume of 301,363 shares.

Wall Street Analysts Forecast Growth

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

Paragon Banking Group Trading Up 2.3%

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 firm has a market cap of £1.52 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.50 and a beta of 1.20. The business has a 50 day moving average price of GBX 793.89 and a 200-day moving average price of GBX 790.78.

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

Paragon Banking Group declared that its board has approved a share repurchase program on Monday, July 6th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's management 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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