Royal Bank Of Canada Forecasts Strong Price Appreciation for Paragon Banking Group (LON:PAG) Stock

by · The Cerbat Gem

Paragon Banking Group (LON:PAG – Get Free Report) had its price objective upped by research analysts at Royal Bank Of Canada from GBX 975 to GBX 1,050 in a note issued to investors on Thursday,Digital Look reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 34.01% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group lifted their target price on Paragon Banking Group from GBX 930 to GBX 1,015 and gave the stock a “hold” rating in a research note on Tuesday, August 26th. Shore Capital upgraded shares of Paragon Banking Group to a “buy” rating and set a GBX 1,000 price objective for the company in a report on Wednesday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Paragon Banking Group has a consensus rating of “Moderate Buy” and an average target price of GBX 1,016.50.

Check Out Our Latest Stock Analysis on PAG

Paragon Banking Group Stock Performance

Shares of PAG stock opened at GBX 783.50 on Thursday. The company has a market cap of £1.49 billion, a P/E ratio of 8.12, a PEG ratio of 0.50 and a beta of 1.52. Paragon Banking Group has a fifty-two week low of GBX 650.50 and a fifty-two week high of GBX 981. The stock has a 50 day simple moving average of GBX 834.48 and a two-hundred day simple moving average of GBX 882.31.

Paragon Banking Group announced that its board has initiated a share repurchase plan on Wednesday, December 3rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Paragon Banking Group

In related news, insider Nigel S. Terrington purchased 3,030 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were purchased at an average cost of GBX 857 per share, for a total transaction of £25,967.10. Also, insider Richard Woodman purchased 1,914 shares of the stock in a transaction dated Monday, September 29th. The stock was purchased at an average cost of GBX 857 per share, for a total transaction of £16,402.98. Corporate insiders own 1.99% of the company’s stock.

About Paragon Banking Group

(Get Free Report)

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.

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