Close Brothers Group plc (LON:CBG) had its price objective lifted by JPMorgan Chase & Co. from GBX 1,500 ($19.58) to GBX 1,575 ($20.56) in a research note issued to investors on Friday. The firm presently has a ” overweight” rating on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 14.30% from the stock’s current price.
A number of other research firms have also commented on CBG. Citigroup Inc. restated a “buy” rating on shares of Close Brothers Group plc in a research note on Tuesday, September 13th. Royal Bank Of Canada restated a “sector performer” rating and set a GBX 1,400 ($18.27) price objective on shares of Close Brothers Group plc in a research note on Friday, September 23rd. Barclays PLC upgraded Close Brothers Group plc to an “overweight” rating and set a GBX 1,300 ($16.97) price objective on the stock in a research note on Thursday, June 30th. Liberum Capital lowered Close Brothers Group plc to a “hold” rating and raised their price objective for the stock from GBX 1,184 ($15.45) to GBX 1,398 ($18.25) in a research note on Thursday, August 18th. Finally, Numis Securities Ltd restated a “buy” rating and set a GBX 1,551 ($20.25) price objective on shares of Close Brothers Group plc in a research note on Wednesday, August 17th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 1,480.67 ($19.33).
Close Brothers Group plc (LON:CBG) opened at 1359.00 on Friday. The stock’s 50 day moving average price is GBX 1,380.51 and its 200 day moving average price is GBX 1,269.87. Close Brothers Group plc has a 52 week low of GBX 975.00 and a 52 week high of GBX 1,569.00. The firm’s market cap is GBX 2.02 billion.
The company also recently disclosed a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Thursday, October 13th will be given a dividend of GBX 38 ($0.50) per share. The ex-dividend date is Thursday, October 13th. This represents a yield of 2.76%. This is a positive change from Close Brothers Group plc’s previous dividend of $19.00.
In related news, insider Elizabeth Lee sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of GBX 1,417 ($18.50), for a total transaction of £283,400 ($369,925.60).
About Close Brothers Group plc
Close Brothers Group plc is a United Kingdom-based merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three divisions: banking, which provides a range of lending products to the United Kingdom small and medium enterprises (SMEs), as well as installment payment solutions to the United Kingdom retail borrowers; securities, which provides dealing and execution services to financial institutions through Winterflood, and asset management, which provides wealth management service for individuals, incorporating both financial planning advice and investment management.
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