Close Brothers Group (LON:CBG) Stock Rating Reaffirmed by J P Morgan Chase & Co

J P Morgan Chase & Co restated their overweight rating on shares of Close Brothers Group (LON:CBG) in a report released on Friday, November 17th. J P Morgan Chase & Co currently has a GBX 1,800 ($24.11) target price on the stock.

Other equities research analysts also recently issued research reports about the company. Numis Securities restated a hold rating and issued a GBX 1,575 ($21.09) target price on shares of Close Brothers Group in a research report on Friday, July 21st. Peel Hunt raised Close Brothers Group to a buy rating and set a GBX 1,600 ($21.43) price objective for the company in a research note on Thursday, November 16th. Liberum Capital dropped their price objective on Close Brothers Group from GBX 1,535 ($20.56) to GBX 1,464 ($19.61) and set a hold rating for the company in a research note on Friday, October 27th. Barclays lowered their target price on Close Brothers Group from GBX 1,550 ($20.76) to GBX 1,450 ($19.42) and set an equal weight rating for the company in a research note on Wednesday, September 27th. Finally, Shore Capital reissued a hold rating on shares of Close Brothers Group in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of GBX 1,518.50 ($20.34).

Close Brothers Group (CBG) opened at GBX 1,412 ($18.91) on Friday. Close Brothers Group has a 12 month low of GBX 1,315 ($17.61) and a 12 month high of GBX 1,715 ($22.97).

Close Brothers Group (LON:CBG) last posted its earnings results on Tuesday, September 26th. The company reported GBX 131.70 ($1.76) EPS for the quarter, topping the consensus estimate of GBX 130.10 ($1.74) by GBX 1.60 ($0.02). The firm had revenue of £765.60 million for the quarter. Close Brothers Group had a return on equity of 15.84% and a net margin of 22.76%.

The firm also recently announced a dividend, which was paid on Tuesday, November 21st. Stockholders of record on Thursday, October 12th were paid a dividend of GBX 40 ($0.54) per share. This represents a dividend yield of 2.71%. This is an increase from Close Brothers Group’s previous dividend of $20.00. The ex-dividend date of this dividend was Thursday, October 12th.

In other Close Brothers Group news, insider Jonathan Howell sold 17,363 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of GBX 1,468 ($19.66), for a total transaction of £254,888.84 ($341,353.74). Also, insider Rebekah Etherington sold 19,477 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of GBX 1,474 ($19.74), for a total value of £287,090.98 ($384,479.68). In the last 90 days, insiders purchased 41 shares of company stock worth $59,235 and sold 37,619 shares worth $55,097,727.

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Close Brothers Group Company Profile

Close Brothers Group plc is a merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three segments: Banking, Securities and Asset Management. The Banking segment provides lending to small businesses and individuals, with an emphasis on specialist finance.

Analyst Recommendations for Close Brothers Group (LON:CBG)

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