Close Brothers Group (LON:CBG) Shares Down 20.3% – Should You Sell?

Close Brothers Group plc (LON:CBGGet Free Report)’s share price dropped 20.3% on Tuesday . The company traded as low as GBX 272.80 ($3.54) and last traded at GBX 275.20 ($3.57). Approximately 3,477,808 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 2,404,174 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analysts Set New Price Targets

CBG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a research report on Thursday, February 13th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Monday, March 3rd.

Get Our Latest Stock Analysis on CBG

Close Brothers Group Trading Down 19.0 %

The firm’s 50-day moving average is GBX 304.94 and its two-hundred day moving average is GBX 316.91. The stock has a market cap of £421.70 million, a price-to-earnings ratio of 4.22, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group Company Profile

(Get Free Report)

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.

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