Cybg (CYBG) Shares Up 10.5% After Insider Buying Activity

Cybg Plc (LON:CYBG) shot up 10.5% during trading on Monday following insider buying activity. The stock traded as high as GBX 214.20 ($2.80) and last traded at GBX 213 ($2.78). 6,919,458 shares traded hands during mid-day trading, an increase of 309% from the average session volume of 1,690,000 shares. The stock had previously closed at GBX 192.70 ($2.52).

Specifically, insider Jim Pettigrew acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 22nd. The stock was acquired at an average cost of GBX 200 ($2.61) per share, for a total transaction of £100,000 ($130,667.71). Insiders purchased a total of 50,146 shares of company stock valued at $10,045,077 over the last quarter.

CYBG has been the topic of several research reports. Berenberg Bank cut Cybg to a “hold” rating and set a GBX 350 ($4.57) target price on the stock. in a research note on Monday, September 17th. Shore Capital restated a “hold” rating on shares of Cybg in a research note on Monday, November 19th. UBS Group cut their target price on Cybg from GBX 273 ($3.57) to GBX 210 ($2.74) and set a “neutral” rating on the stock in a research note on Friday. Credit Suisse Group upgraded Cybg to a “neutral” rating and cut their target price for the company from GBX 285 ($3.72) to GBX 215 ($2.81) in a research note on Friday. Finally, Barclays initiated coverage on Cybg in a research note on Tuesday, October 23rd. They issued an “underweight” rating and a GBX 280 ($3.66) target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 288.70 ($3.77).

The business also recently disclosed a dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 17th will be paid a dividend of GBX 3.10 ($0.04) per share. The ex-dividend date is Thursday, January 17th. This represents a dividend yield of 1.5%. This is a boost from Cybg’s previous dividend of $1.00.

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About Cybg (LON:CYBG)

CYBG PLC, through its subsidiaries, provides retail and business banking products and services to individuals and businesses under the Clydesdale Bank, Yorkshire Bank, and B brands in the United Kingdom. The company operates through SME Banking and Retail Banking segments. The SME Banking segment offers a range of banking products and services, including business current accounts; and secured and unsecured term loans, business overdrafts, invoice finance, and financing capital equipment purchases.

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