Close Brothers Group plc (LON:CBG) was upgraded by research analysts at Numis Securities Ltd to an “add” rating in a report released on Wednesday. The brokerage currently has a GBX 1,619 ($21.13) price objective on the stock. Numis Securities Ltd’s price objective indicates a potential upside of 17.49% from the stock’s current price.
Several other equities research analysts have also recently issued reports on CBG. Barclays PLC reaffirmed an “equal weight” rating on shares of Close Brothers Group plc in a research note on Thursday, June 16th. JPMorgan Chase & Co. decreased their target price on shares of Close Brothers Group plc from GBX 1,600 ($20.89) to GBX 1,400 ($18.27) and set an “overweight” rating on the stock in a research report on Wednesday, June 29th. Peel Hunt reissued a “buy” rating and issued a GBX 1,600 ($20.89) target price on shares of Close Brothers Group plc in a research report on Wednesday, July 20th. Liberum Capital reissued a “buy” rating and issued a GBX 1,184 ($15.45) target price on shares of Close Brothers Group plc in a research report on Thursday, July 21st. Finally, Citigroup Inc. reissued a “buy” rating on shares of Close Brothers Group plc in a research report on Tuesday, September 13th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of GBX 1,472.33 ($19.22).
Close Brothers Group plc (LON:CBG) opened at 1353.00 on Wednesday. Close Brothers Group plc has a one year low of GBX 975.00 and a one year high of GBX 1,569.00. The firm’s 50-day moving average price is GBX 1,380.51 and its 200 day moving average price is GBX 1,269.87. The company’s market capitalization is GBX 2.01 billion.
The company also recently disclosed a dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Thursday, October 13th will be paid a dividend of GBX 38 ($0.50) per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a dividend yield of 2.76%. This is a positive change from Close Brothers Group plc’s previous dividend of $19.00.
In other news, insider Elizabeth Lee sold 20,000 shares of Close Brothers Group plc stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of GBX 1,417 ($18.50), for a total transaction of £283,400 ($369,925.60).
Close Brothers Group plc Company Profile
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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