Share Repurchase Plan Declared by Paragon Banking Group (LON:PAG) Board of Directors

Paragon Banking Group (LON:PAG) announced that its board has initiated a share buyback plan on Monday, July 6th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,100 price objective on shares of Paragon Banking Group in a report on Wednesday, June 3rd. UBS Group restated a “buy” rating and issued a GBX 1,035 price target on shares of Paragon Banking Group in a report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,000 target price on shares of Paragon Banking Group in a research note on Tuesday, June 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,050 target price on shares of Paragon Banking Group in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 1,040.17.

Paragon Banking Group Stock Down 0.4%

Shares of LON PAG traded down GBX 3 during midday trading on Tuesday, reaching GBX 784. 492,208 shares of the company’s stock were exchanged, compared to its average volume of 1,390,141. The stock has a market capitalization of £1.45 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. The company has a debt-to-equity ratio of 163.38, a quick ratio of 1.48 and a current ratio of 16.10. The business’s fifty day moving average price is GBX 752.68 and its two-hundred day moving average price is GBX 801.77. Paragon Banking Group has a 52-week low of GBX 681.50 and a 52-week high of GBX 981.

Paragon Banking Group (LON:PAG) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 52.10 earnings per share (EPS) for the quarter. Paragon Banking Group had a net margin of 14.98% and a return on equity of 11.98%. The business had revenue of £259.20 million during the quarter. Analysts forecast that Paragon Banking Group will post 104.0245566 EPS for the current year.

Paragon Banking Group Company Profile

Paragon is a specialist banking group. It offers a range of savings accounts and provide finance for landlords and small
and medium-sized businesses (‘SMEs’) and residential property developers in the UK. Founded in 1985 and listed on the
London Stock Exchange, it is a FTSE-250 company. Headquartered in Solihull, it employs more than 1,400 people.
Its operations are organised into two lending divisions and lending is funded largely by retail deposits.