Paragon Banking Group (LON:PAG) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Paragon Banking Group PLC (LON:PAG) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 873.02 and traded as high as GBX 881. Paragon Banking Group shares last traded at GBX 881, with a volume of 215,502 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAG. Royal Bank Of Canada raised their price objective on shares of Paragon Banking Group from GBX 975 to GBX 1,050 and gave the company an “outperform” rating in a report on Thursday, December 4th. Shore Capital upgraded shares of Paragon Banking Group to a “buy” rating and set a GBX 1,000 price target for the company in a research report on Wednesday, December 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,016.50.

Paragon Banking Group Trading Up 0.5%

The stock has a market cap of £1.67 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 0.50 and a beta of 1.52. The stock’s 50-day moving average price is GBX 836.10 and its 200-day moving average price is GBX 872.68.

Paragon Banking Group announced that its Board of Directors has authorized a share buyback program on Wednesday, December 3rd that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Richard Woodman purchased 18,436 shares of Paragon Banking Group stock in a transaction on Thursday, December 4th. The stock was acquired at an average cost of GBX 785 per share, for a total transaction of £144,722.60. Also, insider Nigel S. Terrington purchased 30,280 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was bought at an average cost of GBX 785 per share, with a total value of £237,698. Insiders have acquired a total of 63,716 shares of company stock worth $50,362,060 over the last 90 days. Company insiders own 1.99% 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.
Its operations are organised into two lending divisions and lending is funded largely by retail deposits.