Close Brothers Group plc (CBG) Upgraded to Buy by Peel Hunt
Peel Hunt upgraded shares of Close Brothers Group plc (LON:CBG) to a buy rating in a research note released on Thursday morning. The brokerage currently has GBX 1,600 ($21.04) price objective on the stock.
Several other analysts have also recently weighed in on CBG. Shore Capital reissued a hold rating on shares of Close Brothers Group plc in a research note on Thursday. Barclays PLC dropped their price target on shares of Close Brothers Group plc from GBX 1,550 ($20.39) to GBX 1,450 ($19.07) and set an equal weight rating for the company in a research note on Wednesday, September 27th. Jefferies Group LLC reissued a hold rating and issued a GBX 1,543 ($20.29) price target (up previously from GBX 1,506 ($19.81)) on shares of Close Brothers Group plc in a research note on Thursday, September 28th. Liberum Capital reissued a hold rating and issued a GBX 1,535 ($20.19) price target on shares of Close Brothers Group plc in a research note on Tuesday, September 26th. Finally, Numis Securities Ltd reissued a hold rating and issued a GBX 1,575 ($20.72) price target on shares of Close Brothers Group plc in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of GBX 1,551.33 ($20.40).
Close Brothers Group plc (LON:CBG) traded up GBX 9 ($0.12) during trading on Thursday, hitting GBX 1,395 ($18.35). 575,659 shares of the stock traded hands, compared to its average volume of 382,918. Close Brothers Group plc has a twelve month low of GBX 1,315 ($17.30) and a twelve month high of GBX 1,715 ($22.56).
Close Brothers Group plc (LON:CBG) last posted its quarterly earnings results on Tuesday, September 26th. The company reported GBX 131.70 ($1.73) earnings per share for the quarter, beating the consensus estimate of GBX 130.10 ($1.71) by GBX 1.60 ($0.02). Close Brothers Group plc had a net margin of 22.76% and a return on equity of 15.84%. The business had revenue of £765.60 million during the quarter.
The business also recently disclosed a dividend, which will be paid on Tuesday, November 21st. Investors of record on Thursday, October 12th will be given a dividend of GBX 40 ($0.53) per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a dividend yield of 2.71%. This is a boost from Close Brothers Group plc’s previous dividend of $20.00.
In related news, insider Jonathan Howell sold 17,363 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of GBX 1,468 ($19.31), for a total transaction of £254,888.84 ($335,247.72). Also, insider Rebekah Etherington sold 19,477 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of GBX 1,474 ($19.39), for a total transaction of £287,090.98 ($377,602.24). In the last ninety days, insiders have purchased 31 shares of company stock valued at $45,225 and have sold 37,619 shares valued at $55,097,727.
Close Brothers Group plc Company Profile
Close Brothers Group plc is a merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three segments: Banking, Securities and Asset Management. The Banking segment provides lending to small businesses and individuals, with an emphasis on specialist finance.
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