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Prices & Quotes - UK Markets - Paragon Banking Group (PAG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 536.00p
Change Today:
9.00p
Market Cap:
1,360.80m
Sector:
Financial Services

Citi sees contrarian 'opportunity' in UK banks

By Alexander Bueso

Date: Monday 12 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Citi reiterated their 'buy' stance on several of the UK's largest lenders, citing the likely resumption of dividend payments from February 2021 onwards among some of the positives for the group.

They labelled their view on the sector as 'contrarian', pointing out that investor interest in them was at an all-time low.

Similarly, large-capitalisation UK banks were now changing hands on price-to-book multiples of 0.3-0.5 times - which was lower than at the depths of the 2008 financial crisis.

Nevertheless, that, they said, presented an "opportunity, starting with third quarter 2020 results".

Consensus estimates for 2020 had now troughed, Citi added, credit loss assumptions already embedded "conservative" assumptions for unemployment and there was "limited incremental downside risk from a no-deal Brexit vs planned rudimentary [free trade area]".

Indeed, they anticipated that all of the large-cap banks were set to beat analysts' forecasts, especially so Barclays.

"We expect domestic banks to also beat on impairments, most notably Lloyds," they said.

Their 'buy' -rated names in the space included Lloyds, NatWest, StanChart, One Savings Bank and Virgin Money.

However, they were 'neutral' on Barclays, HSBC, Metro Bank and Paragon Banking Group.

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PAG Market Data

Currency UK Pounds
Price 536.00p
Change Today 9.00p
52 Week High 569.50p
52 Week Low 294.00p
Volume 246,469
Shares Issued 253.88m
Market Cap 1,360.80m

Performance Indicators

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Income
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PAG Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Jul-21 28-Jan-21
Paid 23-Jul-21 26-Feb-21
Amount 7.20p 14.40p

Trades for 23-Jul-2021

Time Volume / Share Price
16:35 88,864 @ 536.00p
16:29 20 @ 536.00p
16:29 166 @ 536.00p
16:29 250 @ 537.00p
16:29 20 @ 536.00p

PAG Key Personnel

CEO Nigel S Terrington
CFO Richard Woodman
Chair Fiona Clutterbuck