Close Brothers Group (LON:CBG) Earns “Overweight” Rating from JPMorgan Chase

JPMorgan Chase restated their overweight rating on shares of Close Brothers Group (LON:CBG) in a research note issued to investors on Wednesday, March 14th. They currently have a GBX 1,800 ($25.27) price objective on the stock.

A number of other equities analysts have also issued reports on the company. Peel Hunt lowered Close Brothers Group to a hold rating and set a GBX 1,600 ($22.46) price target on the stock. in a report on Tuesday, March 13th. Shore Capital reissued a hold rating on shares of Close Brothers Group in a report on Tuesday, March 13th. Numis Securities reaffirmed a hold rating and issued a GBX 1,575 ($22.11) price objective on shares of Close Brothers Group in a report on Tuesday, March 13th. Liberum Capital reaffirmed a hold rating and issued a GBX 1,464 ($20.55) price objective on shares of Close Brothers Group in a report on Friday, March 9th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a GBX 1,750 ($24.56) price objective on shares of Close Brothers Group in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of GBX 1,554.50 ($21.82).

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Shares of CBG traded up GBX 3 ($0.04) during midday trading on Wednesday, reaching GBX 1,447 ($20.31). 287,952 shares of the stock were exchanged, compared to its average volume of 422,969. Close Brothers Group has a twelve month low of GBX 1,315 ($18.46) and a twelve month high of GBX 1,715 ($24.07).

Close Brothers Group (LON:CBG) last posted its earnings results on Tuesday, March 13th. The company reported GBX 71.20 ($1.00) EPS for the quarter, topping the Zacks’ consensus estimate of GBX 68.50 ($0.96) by GBX 2.70 ($0.04). Close Brothers Group had a return on equity of 15.84% and a net margin of 22.76%. The business had revenue of £405.50 million for the quarter.

The company also recently declared a dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, March 22nd will be paid a dividend of GBX 21 ($0.29) per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, March 22nd.

In other news, insider Elizabeth Lee sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of GBX 1,523 ($21.38), for a total transaction of £106,610 ($149,649.07). Insiders have bought a total of 30 shares of company stock worth $45,090 in the last three months.

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Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals firms in the United Kingdom. It operates through five segments: Commercial Finance, Retail Finance, Property Finance, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

Analyst Recommendations for Close Brothers Group (LON:CBG)

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