J P Morgan Chase & Co Reaffirms “Overweight” Rating for Close Brothers Group plc (CBG)

J P Morgan Chase & Co restated their overweight rating on shares of Close Brothers Group plc (LON:CBG) in a research note published on Friday. They currently have a GBX 1,800 ($23.67) price objective on the stock.

A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Close Brothers Group plc to an outperform rating and set a GBX 1,600 ($21.04) price objective on the stock in a research report on Thursday, November 2nd. Numis Securities Ltd restated a hold rating and set a GBX 1,575 ($20.72) price objective on shares of Close Brothers Group plc in a research report on Tuesday, September 26th. Peel Hunt restated a hold rating and set a GBX 1,600 ($21.04) price objective on shares of Close Brothers Group plc in a research report on Friday, July 21st. Shore Capital restated a hold rating on shares of Close Brothers Group plc in a research report on Tuesday, September 26th. Finally, Barclays PLC restated an equal weight rating and set a GBX 1,550 ($20.39) price objective on shares of Close Brothers Group plc in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of GBX 1,551.33 ($20.40).

Close Brothers Group plc (LON CBG) opened at GBX 1,391 ($18.30) on Friday. Close Brothers Group plc has a 52 week low of GBX 1,315 ($17.30) and a 52 week high of GBX 1,715 ($22.56).

Close Brothers Group plc (LON:CBG) last issued its earnings results on Tuesday, September 26th. The company reported GBX 131.70 ($1.73) earnings per share (EPS) for the quarter, topping the consensus estimate of GBX 130.10 ($1.71) by GBX 1.60 ($0.02). The firm had revenue of £765.60 million for the quarter. Close Brothers Group plc had a net margin of 22.76% and a return on equity of 15.84%.

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The firm also recently announced a dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Thursday, October 12th will be issued a dividend of GBX 40 ($0.53) per share. This is a boost from Close Brothers Group plc’s previous dividend of $20.00. This represents a yield of 2.71%. The ex-dividend date of this dividend is Thursday, October 12th.

In other news, insider Rebekah Etherington sold 19,477 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of GBX 1,474 ($19.39), for a total value of £287,090.98 ($377,602.24). Also, 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 ($19.31), for a total transaction of £254,888.84 ($335,247.72). Over the last ninety days, insiders have acquired 31 shares of company stock valued at $45,225 and have sold 37,619 shares valued at $55,097,727.

Close Brothers Group plc 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 plc (LON:CBG)

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