Close Brothers Group (LON:CBG) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 286.70 ($3.75) and traded as high as GBX 289.80 ($3.79). Close Brothers Group shares last traded at GBX 276.51 ($3.62), with a volume of 584,640 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on CBG. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Close Brothers Group from GBX 610 ($7.98) to GBX 600 ($7.85) and set a “hold” rating for the company in a report on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a GBX 430 ($5.63) target price on shares of Close Brothers Group in a report on Thursday, March 27th. Finally, Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Tuesday, March 18th.

Close Brothers Group Stock Performance

The firm has a market cap of £415.53 million, a price-to-earnings ratio of 4.16, a PEG ratio of 1.87 and a beta of 0.82. The stock’s fifty day moving average is GBX 311.43 and its two-hundred day moving average is GBX 285.71.

Close Brothers Group (LON:CBG) last announced its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Sell-side analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Buying and Selling at Close Brothers Group

In related news, insider Michael N. Biggs bought 5,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of GBX 288 ($3.77) per share, with a total value of £14,400 ($18,848.17). 2.91% of the stock is owned by company insiders.

About Close Brothers Group

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.