Close Brothers Group (LON:CBG) Shares Down 21.6% – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price fell 21.6% during mid-day trading on Tuesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.52). 7,777,821 shares were traded during trading, an increase of 213% from the average session volume of 2,483,804 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

CBG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a research report on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd.

Close Brothers Group Stock Performance

The company has a market capitalization of £403.77 million, a PE ratio of 4.04, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50 day moving average price of GBX 304.94 and a two-hundred day moving average price of GBX 316.91.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share 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.

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.