Berenberg Bank Reiterates Buy Rating for Close Brothers Group (LON:CBG)

Berenberg Bank reissued their buy rating on shares of Close Brothers Group (LON:CBG – Get Rating) in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 1,150 ($14.30) target price on the stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Close Brothers Group from GBX 1,120 ($13.93) to GBX 950 ($11.82) and set an underweight rating on the stock in a research note on Thursday, January 26th. Shore Capital reiterated a buy rating on shares of Close Brothers Group in a research report on Wednesday. Peel Hunt restated a hold rating and set a GBX 1,031 ($12.82) price target on shares of Close Brothers Group in a report on Tuesday, March 14th. Finally, Royal Bank of Canada cut their price target on Close Brothers Group from GBX 1,250 ($15.55) to GBX 1,200 ($14.93) and set an outperform rating for the company in a report on Wednesday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Close Brothers Group has an average rating of Hold and a consensus target price of GBX 1,082.75 ($13.47).

Close Brothers Group Stock Performance

CBG stock opened at GBX 904.50 ($11.25) on Wednesday. Close Brothers Group has a fifty-two week low of GBX 843 ($10.49) and a fifty-two week high of GBX 1,169 ($14.54). The business’s 50-day moving average is GBX 902.38 and its two-hundred day moving average is GBX 988.20. The company has a market cap of £1.36 billion, a price-to-earnings ratio of 1,739.42, a P/E/G ratio of 1.87 and a beta of 0.90.

Close Brothers Group Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 26th. Investors of record on Thursday, March 23rd were issued a dividend of GBX 22.50 ($0.28) per share. This represents a yield of 2.21%. The ex-dividend date was Thursday, March 23rd. Close Brothers Group’s dividend payout ratio (DPR) is 12,884.62%.

Insider Buying and Selling

In other news, insider Michael N. Biggs bought 1,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were acquired at an average price of GBX 864 ($10.75) per share, for a total transaction of £8,640 ($10,746.27). Insiders have purchased a total of 2,046 shares of company stock valued at $1,824,837 over the last ninety days. Company insiders own 2.11% of the company’s stock.

About Close Brothers Group

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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 various savings products, including personal and business savings, and pension deposits.