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An announcement from Close Brothers Group ( (GB:CBG) ) is now available.
Close Brothers Group is assessing the potential impact of the Financial Conduct Authority’s proposed redress scheme for motor finance commissions, which could significantly increase its existing provision of £165 million. Despite this uncertainty, the group remains confident in its capital strength, boasting a Common Equity Tier 1 ratio of 13.8%, well above the required 9.7%, and plans to keep the market updated as necessary.
The most recent analyst rating on (GB:CBG) stock is a Hold with a £500.00 price target. To see the full list of analyst forecasts on Close Brothers Group stock, see the GB:CBG Stock Forecast page.
Spark’s Take on GB:CBG Stock
According to Spark, TipRanks’ AI Analyst, GB:CBG is a Neutral.
Close Brothers Group’s stock score is primarily driven by strong technical indicators and positive corporate events, which suggest a favorable market sentiment and strategic alignment. However, financial performance challenges and valuation concerns moderate the overall score. The company’s ability to address revenue growth and cash flow management will be crucial for future stability.
To see Spark’s full report on GB:CBG stock, click here.
More about Close Brothers Group
Close Brothers is a UK specialist banking group providing lending, deposit taking, and securities trading, employing approximately 3,000 people primarily in the United Kingdom and Ireland. The company is listed on the London Stock Exchange and is part of the FTSE 250.
Average Trading Volume: 856,370
Technical Sentiment Signal: Hold
Current Market Cap: £739.7M
For detailed information about CBG stock, go to TipRanks’ Stock Analysis page.