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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:
Down 414.40p
Change Today:
-5.60p
Market Cap:
1,063.20m
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.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PAG Market Data

Currency UK Pounds
Price 414.40p
Change Today -5.60p
52 Week High 553.50p
52 Week Low 238.60p
Volume 158,098
Shares Issued 256.56m
Market Cap 1,063.20m

Performance Indicators

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Growth
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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 7
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 9
strong_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
  Final Interim
Ex-Div 09-Jan-20 04-Jul-19
Paid 17-Feb-20 26-Jul-19
Amount 14.20p 7.00p

Trades for 26-Nov-2020

Time Volume / Share Price
14:31 81 @ 414.40p
14:31 50 @ 415.40p
14:31 25 @ 415.00p
14:31 9 @ 414.80p
14:30 66 @ 413.80p

PAG Key Personnel

CEO Nigel S Terrington
CFO Richard Woodman
Chair Fiona Clutterbuck