Canaccord Genuity Group Reiterates "Buy" Rating for Paragon Banking Group (LON:PAG)

Key Points

• Paragon Banking Group's stock received a "buy" rating from Canaccord Genuity Group, with a price target of GBX 1,001 ($13.29), indicating a potential upside of 9.28% from the current price.
• The company’s shares opened at GBX 916 ($12.16), showing a 2.9% increase, and it has a market capitalization of £1.83 billion.
• Insider transactions included Richard Woodman purchasing 1,739 shares at GBX 941 ($12.50) and Hugo Tudor selling 5,000 shares at GBX 950 ($12.61).

Canaccord Genuity Group reaffirmed their buy rating on shares of Paragon Banking Group (LON:PAG - Free Report) in a research report released on Monday, Marketbeat Ratings reports. They currently have a GBX 1,001 ($13.46) price target on the stock.

A number of other analysts have also issued reports on PAG. Shore Capital lowered shares of Paragon Banking Group to a "hold" rating and set a GBX 975 ($13.11) target price for the company. in a research note on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 975 ($13.11) target price on shares of Paragon Banking Group in a research note on Wednesday, July 30th.

Paragon Banking Group Stock Performance

LON PAG traded up GBX 1.50 ($0.02) on Monday, hitting GBX 910 ($12.24). 778,002 shares of the stock were exchanged, compared to its average volume of 684,612. The stock has a fifty day moving average price of GBX 921.27 and a two-hundred day moving average price of GBX 835.39. The firm has a market capitalization of £1.82 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.50 and a beta of 1.52. Paragon Banking Group has a 52-week low of GBX 650.50 ($8.75) and a 52-week high of GBX 981 ($13.19).

Insider Activity

In other Paragon Banking Group news, insider Richard Woodman acquired 1,739 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of GBX 941 ($12.65) per share, with a total value of £16,363.99 ($22,006.44). Also, insider Hugo Tudor sold 5,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of GBX 950 ($12.78), for a total transaction of £47,500 ($63,878.43). Insiders own 3.59% of the company's stock.

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.