Keefe, Bruyette & Woods Maintains Positive Outlook for Close Brothers Group

Keefe, Bruyette & Woods has reaffirmed its "outperform" rating for Close Brothers Group (LON:CBG - Get Free Report), a financial services firm based in the UK. In a recently released research note, analysts set a target price of GBX 430, which is equivalent to approximately $5.54. This price target reflects a potential upside of 30.22% from the stock's previous closing price.

On the same day, the stock performed well, rising by GBX 25.20 ($0.32) to reach GBX 330.20 ($4.25) during the trading session. The trading volume was significant, with 1,195,440 shares exchanged, while the average trading volume stands at 2,457,038 shares. The market capitalization of Close Brothers Group is approximately £497.49 million, and it has a price-to-earnings (P/E) ratio of 4.98 and a PEG ratio of 1.87, with a beta of 0.82. The company's shares have ranged from a twelve-month low of GBX 179.83 ($2.32) to a high of GBX 564 ($7.26).

In recent months, other research firms have also assessed Close Brothers Group's stock. For example, Deutsche Bank Aktiengesellschaft adjusted its price target downwards from GBX 610 ($7.85) to GBX 600 ($7.72), maintaining a "hold" rating. Conversely, Shore Capital reconfirmed a "buy" rating in a separate research note.

Company Overview

Close Brothers Group plc is a merchant banking company that specializes in providing financial services to small businesses and individuals throughout the United Kingdom. The firm operates through several segments, including Commercial, Retail, Property, Asset Management, and Securities. Its offerings include various banking services, such as debt factoring, invoice discounting, asset-based lending, and financing for various sectors, including residential housing and renewable energy.

Recent Insider Activity

In related news, Michael N. Biggs, an insider at Close Brothers Group, purchased 5,000 shares of the stock at an average price of GBX 288 ($3.71) per share, totaling a transaction value of £14,400 ($18,539.98). Insiders currently hold approximately 2.91% of the company's stock.

Upcoming Financial Projections

Close Brothers Group is expected to announce its earnings for the current fiscal year, with analysts projecting an earnings per share (EPS) of approximately 66.01. The company's most recent earnings report indicated an EPS of GBX 30.90 ($0.40) for the quarter, with a net margin of 7.79% and a return on equity of 5.78%. Overall, equity research analysts maintain a moderate buy rating for Close Brothers Group, despite a mixed outlook from other analysts.

Stocks, Analysis, Outperform