Intermediate Capital Group (LON:ICG) Shares Up 1.9% – Time to Buy?

Intermediate Capital Group plc (LON:ICG) shares rose 1.9% on Wednesday . The company traded as high as GBX 2,210 ($28.17) and last traded at GBX 2,200 ($28.05). Approximately 4,498,682 shares were traded during trading, an increase of 178% from the average daily volume of 1,616,025 shares. The stock had previously closed at GBX 2,160 ($27.54).

Analyst Ratings Changes

Separately, Berenberg Bank initiated coverage on shares of Intermediate Capital Group in a research note on Wednesday, October 23rd. They set a “buy” rating and a GBX 2,600 ($33.15) price objective for the company.

Intermediate Capital Group Stock Performance

The business has a 50 day simple moving average of GBX 2,123.02 and a 200-day simple moving average of GBX 2,168.77. The firm has a market capitalization of £6.41 billion, a price-to-earnings ratio of 1,356.25 and a beta of 1.97.

Intermediate Capital Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 5th will be given a dividend of GBX 26.30 ($0.34) per share. This represents a yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 5th. Intermediate Capital Group’s payout ratio is currently 4,937.50%.

About Intermediate Capital Group

We are a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications. We utilize a fabless business model and specialize in the front-end and back-end of IC design, which are the major components of the IC product development chain.