Close Brothers Group (LON:CBG) Shares Down 11.7% – Here’s What Happened

Close Brothers Group plc (LON:CBG) dropped 11.7% during mid-day trading on Tuesday . The stock traded as low as GBX 281.40 ($3.66) and last traded at GBX 305 ($3.96). Approximately 1,463,577 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 2,366,874 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

Several analysts have recently commented on CBG shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a research report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd.

Close Brothers Group Price Performance

The firm has a market cap of £433.82 million, a price-to-earnings ratio of 4.34, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The business’s 50-day moving average price is GBX 304.94 and its two-hundred day moving average price is GBX 316.91.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.