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Paragon Banking Group PLC ( (GB:PAG) ) has shared an update.
Paragon Banking Group PLC announced the repurchase of 103,000 of its ordinary shares as part of a £50 million share buyback program. This transaction, executed through UBS AG London Branch, reflects the company’s strategic move to enhance shareholder value and optimize its capital structure. The buyback, with shares purchased at prices ranging from 858.50p to 886.00p, results in the company holding 9,161,416 shares in treasury, with 195,243,544 shares remaining in issue. This move is likely to impact the company’s market positioning by potentially increasing earnings per share and providing a signal of confidence in its financial health.
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 is engaged in providing a range of financial products, including mortgages, loans, and savings accounts, catering to both individual and business clients.
Average Trading Volume: 374,336
Technical Sentiment Signal: Buy
Current Market Cap: £1.67B
See more data about PAG stock on TipRanks’ Stock Analysis page.