RBC cuts target for Close Brothers stock from GBp 625 to GBp 470
Published on 10/08/2026 at 13:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Close Brothers stock (ISIN GB0007668071) was trading at EUR 4.53 at Lang & Schwarz on October 8, 2026 at 1:39 p.m. CEST, down 1.31 percent from the EUR 4.59 prior close. According to Halifax in its October 2, 2026 report, RBC Capital Markets had cut its target from GBp 625 to GBp 470 and downgraded the shares from outperform to sector perform.
RBC target falls to GBp 470
The target reduction followed uncertainty over the Financial Conduct Authority motor-finance redress scheme and a judicial review that RBC expected to push the legal timetable into December 2026 or February 2027. Halifax reported that RBC considered Close Brothers' existing motor-finance provision of GBP 320 million potentially subject to further scrutiny and removed its previous 5p dividend forecast.
Three milestones and their figures
On July 31, 2025, adjusted operating profit stood at GBP 144.30 million, according to the group's results published by FT. On September 29, 2026, the same report showed fiscal 2026 adjusted operating profit at GBP 120.30 million, down 17.00 percent, with return on average tangible equity at 5.50 percent.
On October 2, 2026, Halifax reported the RBC target cut from GBp 625 to GBp 470. The sequence points to a bank improving its cost base while investors continue to value legal and distribution uncertainty heavily.
What does the target cut change?
Close Brothers reported fiscal 2026 underlying loan-book growth of 4.00 percent in the second half, after 2.00 percent for the full year, while its CET1 capital ratio rose to 14.10 percent from 13.80 percent in fiscal 2025. Against the primary-market quote of GBp 380.40 at 12:40 p.m. BST on October 8, 2026, the GBp 470 target lies 23.55 percent above the price.
Dates for the next test
The Upper Tribunal hearing is expected in December 2026 or February 2027, according to Investing.com. TradingView lists March 16, 2027 as the next earnings date.
Euro quote is EUR 4.53
The Lang & Schwarz quote was EUR 4.53 on October 8, 2026 at 1:39 p.m. CEST, minus 1.31 percent versus the EUR 4.59 prior close. The London Stock Exchange quote was GBp 380.40 at 12:40 p.m. BST on October 8, 2026, within a 52-week range of GBp 318.40 to GBp 556.15. The further course of trading is shown by the continuously updated real-time quote of Close Brothers stock.
Close Brothers stock facts
- Company: Close Brothers Group plc
- ISIN: GB0007668071
- Ticker: CBG
- Primary exchange: London Stock Exchange
- Price Lang & Schwarz (as of October 8, 2026, 1:39 p.m. CEST): EUR 4.53
- Change versus prior close: minus 1.31 percent
- Prior close Lang & Schwarz (October 7, 2026): EUR 4.59
- Market capitalization: GBP 573.3 million (as of October 8, 2026)
- 52-week range: GBp 318.40-556.15 (as of October 8, 2026)
- Sector / Industry: Financial Services / Banks - Regional
- Index membership: FTSE 250
Market context: Market report FTSE 100.
