Paragon Banking Group (LON:PAG) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Shares of Paragon Banking Group PLC (LON:PAG) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 775.68 and traded as low as GBX 701. Paragon Banking Group shares last traded at GBX 715, with a volume of 199,749 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on PAG. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 1,050 price objective on shares of Paragon Banking Group in a report on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,070 target price on shares of Paragon Banking Group in a research note on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 1,100 target price on shares of Paragon Banking Group in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Paragon Banking Group currently has an average rating of “Buy” and an average price target of GBX 1,062.

Paragon Banking Group Stock Performance

The stock has a 50 day moving average of GBX 795.40 and a 200 day moving average of GBX 775.12. The company has a quick ratio of 1.48, a current ratio of 16.10 and a debt-to-equity ratio of 163.38. The firm has a market cap of £1.26 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 0.50 and a beta of 1.19.

Paragon Banking Group announced that its Board of Directors has authorized a stock repurchase program on Monday, July 6th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About Paragon Banking Group

Paragon is a specialist banking group. It offers a range of savings accounts and provide finance for landlords and small
and medium-sized businesses (‘SMEs’) and residential property developers in the UK. Founded in 1985 and listed on the
London Stock Exchange, it is a FTSE-250 company. Headquartered in Solihull, it employs more than 1,400 people.
Its operations are organised into two lending divisions and lending is funded largely by retail deposits.