Paragon Banking Group Executes Share Buyback Program

Paragon Banking Group PLC ( (GB:PAG) ) just unveiled an update.

Paragon Banking Group PLC has executed a share buyback program, purchasing 45,000 of its ordinary shares at a volume-weighted average price of 894.3158 pence per share. This move is part of a larger £50 million buyback initiative announced earlier, reflecting the company’s strategy to enhance shareholder value and optimize its capital structure. The purchase increases the company’s treasury shares to 5,621,575, with 198,783,385 ordinary shares remaining in issue, which impacts the total voting rights available to shareholders.

The most recent analyst rating on (GB:PAG) stock is a Buy with a £875.00 price target. To see the full list of analyst forecasts on Paragon Banking Group PLC stock, see the GB:PAG Stock Forecast page.

Spark’s Take on GB:PAG Stock

According to Spark, TipRanks’ AI Analyst, GB:PAG is a Outperform.

Paragon Banking Group PLC’s stock is well-supported by strong financial performance and attractive valuation. The strategic share buyback program further enhances shareholder value. However, caution is advised due to potential short-term volatility as indicated by technical analysis. Overall, the stock presents an appealing opportunity for value investors.

To see Spark’s full report on GB:PAG stock, click here.

More about Paragon Banking Group PLC

Paragon Banking Group PLC operates in the financial services industry, focusing on banking and lending services. The company is involved in providing a range of financial products, including mortgages, loans, and savings accounts, primarily targeting the UK market.

Average Trading Volume: 388,314

Technical Sentiment Signal: Buy

Current Market Cap: £1.73B

For detailed information about PAG stock, go to TipRanks’ Stock Analysis page.