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Paragon Banking Group PLC ( (GB:PAG) ) has provided an update.
Paragon Banking Group PLC has executed a share buyback program, purchasing 113,000 of its ordinary shares at a volume-weighted average price of 874.8835p per share. This move is part of a previously announced £50 million buyback initiative and results in the company holding 1,981,370 shares in treasury, with 195,423,544 shares in issue. The buyback is expected to enhance shareholder value and optimize the company’s capital structure, potentially impacting its market positioning positively.
The most recent analyst rating on (GB:PAG) stock is a Hold with a £10.15 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, primarily focusing on banking and lending services. The company offers a range of financial products, including savings accounts, loans, and mortgages, with a market focus on providing tailored financial solutions to individuals and businesses.
Average Trading Volume: 372,883
Technical Sentiment Signal: Buy
Current Market Cap: £1.68B
For detailed information about PAG stock, go to TipRanks’ Stock Analysis page.