Paragon Banking Group (LON:PAG) Shares Down 9.3% - Here's What Happened

Key Points

• Paragon Banking Group's stock dropped by 9.3% on Tuesday, trading between GBX 840 ($11.22) and GBX 863 ($11.53), with a notable increase in trading volume at 1,600,280 shares.
• In recent analyst updates, Canaccord Genuity raised their price target from GBX 958 ($12.80) to GBX 1,001 ($13.37), maintaining a "buy" rating, while Shore Capital also reaffirmed a "buy" rating.
• Insider trading activity included the purchase of 1,739 shares by Richard Woodman and the sale of 5,000 shares by Hugo Tudor, indicating mixed insider sentiment.

Paragon Banking Group PLC (LON:PAG - Get Free Report)'s stock price dropped 9.3% on Tuesday . The stock traded as low as GBX 840 ($11.10) and last traded at GBX 863 ($11.40). Approximately 1,600,280 shares were traded during mid-day trading, an increase of 128% from the average daily volume of 701,692 shares. The stock had previously closed at GBX 952 ($12.58).

Analysts Set New Price Targets

PAG has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on shares of Paragon Banking Group from GBX 958 ($12.66) to GBX 1,001 ($13.22) and gave the company a "buy" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada restated an "outperform" rating and set a GBX 975 ($12.88) price target on shares of Paragon Banking Group in a research note on Wednesday. Finally, Shore Capital lowered shares of Paragon Banking Group to a "hold" rating and set a GBX 975 ($12.88) price target for the company. in a research note on Tuesday.

Paragon Banking Group Price Performance

The company's fifty day moving average price is GBX 920.97 and its 200 day moving average price is GBX 829.10. The company has a market cap of £1.78 billion, a PE ratio of 9.61, a P/E/G ratio of 0.50 and a beta of 1.52.

Insider Activity at Paragon Banking Group

In other Paragon Banking Group news, insider Richard Woodman bought 1,739 shares of the business's stock in a transaction on Monday, June 30th. The stock was purchased at an average price of GBX 941 ($12.43) per share, for a total transaction of £16,363.99 ($21,616.90). Also, insider Nigel S. Terrington bought 2,753 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of GBX 941 ($12.43) per share, with a total value of £25,905.73 ($34,221.57). 3.59% of the stock is owned by company insiders.

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.