Close Brothers Shares Surge 13% After Beating Profit and Cost Forecasts

Key Facts

1Close Brothers Group PLC shares jumped 13% to 434.4p following financial results that beat cost and profit expectations.

2Shore Capital reiterated its 'Buy' rating on the stock with a target price of 495p.

Close Brothers Group PLC shares jumped 13% to 434.4p on September 29, 2026, following financial results that beat cost and profit expectations. Proactive Investors reported that adjusted pre-tax profit reached £120 million, ahead of the £111 million expected by analysts, driven by effective expenditure controls.

The lender achieved annualized savings of £36 million during the period, surpassing its initial target of £25 million and lifting the return on tangible equity to 5.5%. Following the report, Shore Capital reiterated its 'Buy' rating on the stock with a target price of 495p, noting that the results strengthen the investment case for the group.