Close Brothers Group (CBG) Hits New 52-Week High Following Dividend Announcement

Close Brothers Group plc (LON:CBG) shares reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 1,682 ($21.91) and last traded at GBX 1,600 ($20.84), with a volume of 441772 shares trading hands. The stock had previously closed at GBX 1,648 ($21.47).

The newly announced dividend which will be paid on Tuesday, November 20th. Shareholders of record on Thursday, October 11th will be paid a dividend of GBX 42 ($0.55) per share. This is a boost from Close Brothers Group’s previous dividend of $21.00. The ex-dividend date of this dividend is Thursday, October 11th. This represents a yield of 2.63%.

Several research firms have commented on CBG. Numis Securities cut shares of Close Brothers Group to a “hold” rating and set a GBX 1,693 ($22.05) target price on the stock. in a research note on Tuesday. Shore Capital reissued a “hold” rating on shares of Close Brothers Group in a research note on Tuesday. Finally, Peel Hunt reissued a “hold” rating on shares of Close Brothers Group in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Close Brothers Group has a consensus rating of “Hold” and a consensus target price of GBX 1,561.30 ($20.34).

Close Brothers Group Company Profile (LON:CBG)

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals firms in the United Kingdom. It operates through five segments: Commercial Finance, Retail Finance, Property Finance, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

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