Paragon Banking Group (PAG) Releases Earnings Results, Beats Expectations By $2.20 EPS

Paragon Banking Group (LON:PAG) released its earnings results on Wednesday. The company reported GBX 48.20 ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of GBX 46 ($0.60) by GBX 2.20 ($0.03), Digital Look Earnings reports.

Paragon Banking Group stock traded up GBX 9 ($0.12) during midday trading on Friday, reaching GBX 452.40 ($5.91). 277,656 shares of the company’s stock were exchanged, compared to its average volume of 729,645. Paragon Banking Group has a 52 week low of GBX 400.30 ($5.23) and a 52 week high of GBX 555.99 ($7.26).

The firm also recently declared a dividend, which will be paid on Monday, February 18th. Investors of record on Thursday, January 10th will be issued a dividend of GBX 13.90 ($0.18) per share. The ex-dividend date is Thursday, January 10th. This represents a yield of 3.12%. This is a boost from Paragon Banking Group’s previous dividend of $5.50.

A number of equities analysts recently commented on PAG shares. Royal Bank of Canada cut Paragon Banking Group to a “sector performer” rating and lifted their price target for the stock from GBX 370 ($4.83) to GBX 500 ($6.53) in a report on Friday, September 21st. Jefferies Financial Group reiterated a “buy” rating and set a GBX 641 ($8.38) price target on shares of Paragon Banking Group in a report on Tuesday, September 18th. Shore Capital reiterated a “buy” rating on shares of Paragon Banking Group in a report on Tuesday, September 18th. Finally, Peel Hunt reiterated a “buy” rating on shares of Paragon Banking Group in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of GBX 534.60 ($6.99).

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About Paragon Banking Group

Paragon Banking Group PLC provides financial services in the United Kingdom. The company operates through three segments: Mortgages, Commercial Lending, and Idem Capital. The Mortgages segment offers buy-to-let first charge, and owner-occupied first and second charge mortgages on residential property.

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