Vanquis Banking Group (LON:VANQ) Stock Price Down 24.1% Following Analyst Downgrade

Vanquis Banking Group plc (LON:VANQGet Free Report)’s stock price traded down 24.1% on Thursday after Berenberg Bank lowered their price target on the stock from GBX 165 to GBX 145. Berenberg Bank currently has a buy rating on the stock. Vanquis Banking Group traded as low as GBX 82 and last traded at GBX 87.40. Approximately 12,719,925 shares traded hands during trading, an increase of 1,283% from the average session volume of 919,853 shares. The stock had previously closed at GBX 115.20.

Separately, Shore Capital Group reiterated a “buy” rating on shares of Vanquis Banking Group in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 142.50.

Read Our Latest Stock Analysis on VANQ

Insider Activity

In other news, insider Dave Watts bought 45,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was purchased at an average cost of GBX 85 per share, for a total transaction of £38,250. Over the last 90 days, insiders purchased 45,394 shares of company stock worth $3,870,041. 3.68% of the stock is owned by corporate insiders.

Vanquis Banking Group Price Performance

The firm has a market cap of £218.79 million, a P/E ratio of 28.19 and a beta of 1.23. The company’s 50-day simple moving average is GBX 113.80 and its 200 day simple moving average is GBX 115.13.

Vanquis Banking Group (LON:VANQGet Free Report) last posted its earnings results on Thursday, July 30th. The company reported GBX 1.80 earnings per share for the quarter. Vanquis Banking Group had a net margin of 1.87% and a return on equity of 1.89%. Analysts anticipate that Vanquis Banking Group plc will post 4.1557331 EPS for the current fiscal year.

About Vanquis Banking Group

(Get Free Report)

We’re Vanquis Banking Group plc, an FTSE All Share company and a leading specialist bank, established in 1880. We lend responsibly, providing tailored products and services to 1.75 million UK customers through Vanquis, Moneybarn, and Snoop.

https://www.vanquisbankinggroup.com/shareholder-hub/investment-case/

Further Reading

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