Canaccord Genuity Downgrades Paragon Banking Group (LON:PAG) to Hold

Canaccord Genuity lowered shares of Paragon Banking Group (LON:PAG) to a hold rating in a research report report published on Wednesday morning, Digital Look reports. Canaccord Genuity currently has GBX 519 ($6.78) price target on the stock, up from their prior price target of GBX 500 ($6.53).

Several other research analysts have also recently commented on the stock. Jefferies Financial Group reiterated a buy rating on shares of Paragon Banking Group in a report on Monday, September 16th. Royal Bank of Canada upgraded shares of Paragon Banking Group to a sector performer rating and raised their price target for the stock from GBX 400 ($5.23) to GBX 445 ($5.81) in a report on Thursday, August 29th. Shore Capital restated a buy rating on shares of Paragon Banking Group in a report on Tuesday, July 23rd. Finally, Peel Hunt raised their price target on shares of Paragon Banking Group from GBX 485 ($6.34) to GBX 580 ($7.58) and gave the stock a buy rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Paragon Banking Group has an average rating of Buy and an average target price of GBX 536 ($7.00).

Shares of PAG traded up GBX 9.40 ($0.12) during midday trading on Wednesday, hitting GBX 501 ($6.55). The stock had a trading volume of 250,855 shares, compared to its average volume of 729,645. Paragon Banking Group has a fifty-two week low of GBX 379.20 ($4.95) and a fifty-two week high of GBX 518 ($6.77). The business has a 50-day simple moving average of GBX 492.85 and a two-hundred day simple moving average of GBX 453.02. The firm has a market cap of $1.28 billion and a P/E ratio of 9.40. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 692.41.

In related news, insider Hugo Tudor sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of GBX 453 ($5.92), for a total transaction of £113,250 ($147,981.18).

Paragon Banking Group Company Profile

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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Analyst Recommendations for Paragon Banking Group (LON:PAG)

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