Close Brothers Group (LON:CBG) Shares Down 20.3% – Here’s What Happened

Shares of Close Brothers Group plc (LON:CBG) fell 20.3% during trading on Tuesday . The stock traded as low as GBX 272.80 ($3.54) and last traded at GBX 275.20 ($3.57). 3,477,808 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 2,404,174 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analysts Forecast Growth

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

Close Brothers Group Price Performance

The stock’s 50-day moving average is GBX 304.94 and its 200-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 price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

About Close Brothers Group

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.