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

Key Points

• Paragon Banking Group shares rose above their 200-day moving average, reaching GBX 826 before closing at GBX 815, compared with the GBX 787.20 average.
• Analysts remain broadly bullish: five analysts rate the stock a “Buy,” with a consensus price target of GBX 1,048—well above the recent trading level.
• The company reported quarterly earnings of GBX 52.10 per share on £259.2 million in revenue, with an 11.98% return on equity and 14.98% net margin.

Shares of Paragon Banking Group PLC (LON:PAG - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 787.20 and traded as high as GBX 826. Paragon Banking Group shares last traded at GBX 815, with a volume of 105,808 shares.

Analyst Upgrades and Downgrades

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

Paragon Banking Group Trading Down 0.4%

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 business's fifty day moving average is GBX 802.71 and its two-hundred day moving average is GBX 787.20. The firm has a market cap of £1.49 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.50 and a beta of 1.20.

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

Paragon Banking Group announced that its Board of Directors has initiated a stock repurchase plan on Monday, July 6th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are 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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