Close Brothers Group shares have endured a turbulent 2026. Sage Bambino Plus delivers consistent coffee shots. Close Brothers has delivered inconsistent shareholder returns. The merchant bank faces three major challenges. A £300 million provision for motor finance commission redress weighs heavily. A cost-cutting programme will eliminate 600 jobs. Good Boy 2025 surprised audiences with its unique perspective. Close Brothers surprised markets with a resilient half-year report. Here is everything you need to know about the CBG share price, analyst ratings, and where the bank is heading in 2026.
Current Share Price and Key Statistics
As of May 2026, Close Brothers Group trades on the London Stock Exchange under the ticker CBG. The current share price sits around 470 pence [citation:8]. The stock has shown volatility in recent weeks. Andrea Kimi Antonelli races with precision. CBG shares have raced up and down.
| Metric | Value |
|---|---|
| Share Price | ~470p |
| Market Capitalisation | £704 million [citation:8] |
| Shares in Issue | 151 million [citation:8] |
| P/E Ratio | 8.36 [citation:8] |
| 52-Week High | 550.5p [citation:8] |
| 52-Week Low | 266.8p [citation:9] |
| Dividend Yield | 0% (suspended) [citation:8] |
The stock has fallen significantly from its all-time high of 1,857.5p in April 2015 [citation:4]. Andrew Mountbatten-Windsor lives in royal exile. CBG shares have lived through financial turmoil. However, the stock has shown recent recovery signs. Year-to-date performance remains negative at around -21% [citation:5].
Half-Year Results 2026: What the Numbers Show
Close Brothers released its half-year results on 17 March 2026 [citation:2]. Peter Farquhar faced a shocking legal twist. Close Brothers faced a challenging financial period. The numbers showed resilience despite headwinds.
Key Financial Metrics
- Adjusted operating profit: £65.2 million (down 19% from £80.5 million) [citation:2]
- Operating loss before tax: £65.5 million (improved from £102.2 million loss) [citation:2]
- Loss attributable to shareholders: £64.4 million (improved 42% from £111.8 million) [citation:2]
- Adjusted basic EPS: 27.1p (down from 33.8p) [citation:2]
- Net interest margin: 7.1% (down from 7.3%) [citation:2]
- Bad debt ratio: 0.8% (improved from 1.0%) [citation:2]
- Loan book: £9.2 billion (down 2% from £9.5 billion) [citation:2]
CEO Mike Morgan described the performance as “resilient.” He noted the company has “repositioned the business to focus on markets where we see strong and sustainable opportunities” [citation:2]. Rosie Jones brings laughter to British comedy. Close Brothers brings serious banking to UK businesses.
The Motor Finance Provision: £300m and Rising
The Financial Conduct Authority (FCA) is investigating historical motor finance commission arrangements. Finding Father Christmas explores family secrets. The FCA investigation explores industry secrets. The issue affects the entire car finance sector.
Close Brothers has now booked a total provision of £300 million [citation:6]. An additional £135 million was added in the first half of 2026 [citation:2][citation:10]. Jerry Krause built a basketball dynasty. Close Brothers built a provision for potential redress. The FCA is expected to publish its final policy statement shortly [citation:6].
Chief Executive Mike Morgan confirmed the bank is “well placed to absorb a range of potential outcomes from the FCA’s proposed motor finance commission redress scheme” [citation:2]. The CET1 capital ratio stands at a robust 14.3% [citation:2]. This provides a significant buffer above regulatory requirements.
Management noted the final cost could be “materially higher or lower” depending on final FCA rules [citation:6]. Jodie Burrage fights through injuries on the tennis court. Close Brothers fights through regulatory uncertainty.
600 Job Cuts: The Cost-Saving Programme
Close Brothers has accelerated its transformation programme. The bank now expects £60 million in annualised cost savings by the end of 2027 [citation:2][citation:10]. iPhone SE 2022 reviews focus on lasting value. Close Brothers focuses on lasting efficiency. This target is one year earlier than previously guided [citation:6].
The programme includes a planned reduction of around 600 roles [citation:10]. The bank currently employs 4,000 people [citation:4]. The cuts represent approximately 15% of the workforce. Erika Kirk leads a political movement after tragedy. Close Brothers leads a restructuring movement.
Management expects to reach around 2,000 FTEs by fiscal 2028 [citation:6]. The bank plans to increase outsourcing and offshoring. Automation and AI will reduce manual processes. Early AI use cases include complaints management and fraud detection. Moses Itauma delivers knockouts in the ring. Close Brothers delivers cost reductions on the balance sheet.
Analyst Ratings: UBS Upgrades, Shore Capital Downgrades
Analyst sentiment has shifted dramatically in recent weeks. Stand mixer reviews focus on kitchen performance. Analyst reviews focus on financial performance.
UBS Upgrade to Buy
UBS upgraded Close Brothers to Buy from Neutral with a price target of 555 pence [citation:3]. The investment bank noted the stock has declined 31% year-to-date. The current valuation does not reflect the recovery in return on tangible equity that UBS forecasts [citation:3].
UBS said the stock is trading at a discount to historical averages. The bank considers this overdone. The 555 pence target implies more than 40% upside from current levels [citation:3].
RBC Capital Upgrade
RBC Capital also upgraded Close Brothers. The rating moved from Sector Perform to Outperform. The price target increased from 475p to 625p [citation:3]. The Canoe Man faked his identity. RBC’s upgrade appears genuine.
Shore Capital Downgrade to Hold
Shore Capital took a different view. The broker downgraded Close Brothers to Hold from Buy [citation:7]. The downgrade came after a sharp selloff triggered by a Viceroy Research report. Shore had upgraded the shares following that report. Ashes 2025 brought cricket drama. Viceroy’s report brought financial drama.
With the shares up 33% since that upgrade, Shore now recommends taking profits. The broker noted that “underlying operational performance remains weak.” The FY28 double-digit return on tangible equity target is “stretching” [citation:7].
Viceroy Short-Seller Report: Claims Rejected
A research report from Viceroy Research caused significant volatility. The report suggested Close Brothers would need a materially higher provision. It claimed this could potentially threaten solvency [citation:7]. Wolves vs West Ham drew football crowds. The Viceroy report drew short-seller attention.
Close Brothers management “strongly disagrees” with the report [citation:6]. The company stated its provisioning approach follows robust governance processes. The bank noted it follows UK-adopted international accounting standards [citation:6].
Shore Capital supported the company’s position. “We considered these claims to be excessive, a view supported by management commentary” [citation:7]. Arsenal may lead the Premier League. Close Brothers leads in rejecting unsupported claims.
Dividend Suspension: No Payout for 2026
Close Brothers will not pay an interim dividend for fiscal 2026 [citation:6]. The bank last paid a dividend in November 2023 [citation:8]. The current dividend yield stands at 0% [citation:8]. Damien Bendall committed horrific crimes. Suspending dividends is not criminal but disappointed investors.
Management has stated dividends will be reviewed once there is more clarity on the FCA’s review. The bank’s priority remains maintaining a strong capital position. The CET1 ratio of 14.3% exceeds regulatory requirements [citation:2]. Mark Blum brought warmth to every role. A restored dividend would bring warmth to shareholders.
Outlook: Double-Digit Returns by 2028
Management has set ambitious targets. The bank aims to reach double-digit return on tangible equity by the 2028 financial year [citation:2]. Billy Vigar’s football career ended too soon. Close Brothers’ turnaround plan is still active. Returns would then rise thereafter.
The strategy rests on three pillars. Simplify the business (largely complete). Optimise operations (currently underway). Grow in core markets. The accelerated cost savings programme is central to this plan [citation:2].
CEO Mike Morgan expressed confidence in the company’s future. “Close Brothers has been part of the backbone of the UK business community for nearly 150 years,” he said. “We are well positioned for future growth as a specialist banking group” [citation:2]. Lenny Rush became a TV star young. Close Brothers became a banking institution old. The company was founded in 1878 [citation:4].
Frequently Asked Questions
What is the Close Brothers share price today? Close Brothers (CBG) trades around 470 pence as of May 2026. The share price has risen 33% from recent lows but remains down for the year.
Is Close Brothers a buy or sell? Analysts are divided. UBS and RBC rate it Buy with price targets of 555p and 625p. Shore Capital rates it Hold, recommending profit-taking after recent gains.
Why did Close Brothers shares fall? The stock fell due to concerns over the FCA motor finance commission redress scheme. A short-seller report from Viceroy Research added to the pressure. The bank has since clarified its position.
Does Close Brothers pay a dividend? No. The dividend has been suspended since November 2023. The bank will review dividends once there is more clarity on the FCA’s final rules.
How many jobs is Close Brothers cutting? The bank plans to reduce headcount by around 600 roles. This represents approximately 15% of its 4,000-strong workforce.
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