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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Close Brothers Group Plc | CBG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.40 | -0.71% | 476.00 | 16:35:21 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 484.40 | 465.80 | 485.00 | 476.00 | 479.40 |
| Industry Sector |
|---|
| NONEQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 16/4/2024 08:30 by karv1 www.closebrothers.coThis is a vague list of possible views including some possible FCA liabilities from a few analyst. With a short explanation underneath the list. |
Posted at 29/3/2024 08:41 by karv1 I just noticed they have updated there analyst consesus from November to March 12th to include views on possible fca payments.www.closebrothers.co |
Posted at 15/3/2024 16:18 by chriss911911 abrdn plc, 10%, who increased Royal London 5%, M&G 4.8% black rock 5%, FIL 4.6%, now a new major holder BOM 3% who are new investors, and Marshal closed out their short, leaving no borrowed stock, would seem the reverse % of retail investors is unusually high given the former market cap, but falling. |
Posted at 27/2/2024 15:40 by blueclyde Absolutely everything I can see points to the fact this stock capitulated more due to the weak UK markets than anything else. I doubt the company expected this when they paused the dividend. The algo that has been buying all day is not getting many shares in the grand scheme of things and the price is flying. Could easily trade back up to 900p a share as institutional investors try take a position. |
Posted at 23/2/2024 00:42 by cyberbub Popit I think any competent senior team of accountants and legal experts should be able to give a reasonable range of estimates, even if it's fairly wide at the moment. I would expect at least a stab at it in the results in 4 weeks' time, investors will expect to see something.Meanwhile the rebound seems strong so far touch wood. For chartists the RSI is absolutely rock bottom so there's still plenty of scope for it to keep rising for some time yet (albeit unlikely in a straight line). I would not be at all surprised to see 450p by the time of the results...GLA no advice etc |
Posted at 22/2/2024 14:11 by cyberbub Petersinthemarket, I think the slow decline from 1500p was largely due to the Novatis issue, perhaps investors again thought that it was bigger than it turned out to be. Looking forward past this latest car finance issue, ultimately even if the divi is cut from 67p to 50p, anyone buying now is still on a yield of 15%!... |
Posted at 22/2/2024 12:05 by chriss911911 Gosh this goes up and down faster than a hookers knickers, judging by the Lloyds provision, who are we to argue, would put close bros below even the low end of estimates, business certainly is looking up, and no, I'm still talking about the hooker. That said price is nothing to do with valuation, near term it is panic, policy, and procrastination, rather than buy, profit and sell, no one is selling at a meaningful profit at these levels, save day trading spivs.Don't think £8 will happen anytime soon but that is too cheap if we believe Lloyds, but don't see anything like that until dividend resolved, as you will not get that group of investors reactivated without it, the valuation is predicated on income model, it's hard to value as is. I think we know where the big action is, and it is below £3 or above £6, as I do think there are now a lot of weak speculative holders, who would be out for a quick turn, not as quick as the hooker, but quick. Better to see it out until next year, if you want a fair valuation if you can handle the ups and downs inbetween. |
Posted at 16/2/2024 11:29 by chriss911911 I would be careful here there is a good reason why the price keeps falling, they need 10.5% capital ratio for regulator reasons, so arguably need at least 11.5%, the analyst estimate mostly 11.5% to 12%, not my numbers, theirs, so sailing to min needed without FCA penalty. What happens if you hit it with 200m of cash overnight, there is not enough capital headroom to meet regulatory requirements or is at the limit, so a capital raise is inevitable, but an if, right now that is the risk to capital.The yield was so high, because very high risk to be cut without this FCA issue. The risk was even worse of course when it became known, but lets not forget they were already heading to issues with covering dividend with falling capital ratio, and growing impairments, the clues to this debacle were there in the last annual reports. Using averages is okay, but not in isolation, the carve out to Close is too generous they ean't higher, for longer and deeper across the business, the relative payouts if they come will hit much harder yet they are relatively small institution, so a real problem relatively speaking compare to peers. What we don't know is the overall FCA ruling. The 99m on divi they were pushing out, was too much and not sustainable causing capital ratio to erode, 50m is more realistic to rebuild capital but hang on we have also maybe 200m to find, too, so maybe forget any dividend for a few years if the penalty does not force a debt/equity raise which at this rate will be for peanuts, killing any chance of a return. They have already hinted of no dividend next year, dependant on FCA ruling. Why would invest for a small return, when the value was all in predictable income, take that away, and add in high capital risk, then there is not much value in the shares, because if you win, you might get back to £600m market cap, if you lose, you could see a heavily diluted capital position, sub £200m, risk reward is unbalanced. If you cannot pay cash out because you don't have the capital coverage, and they think they will not, which is why divi cancelled, otherwise they don't do it. This is not a capital gain thing, it is a structured income investment which yields income, it is not the same thing as a growth share, far from it, it's value, is ability to achieve income for investors, and low risk to capital, both are clearly in a very bad place. The funds holding this will not want to be holding it, if the FCA issues proves more divisive, or it impedes the quality of their reported yields, to them which is the case already. It's is worth more than the share price, so anyone's guess how low they are willing to go, and right now they have a lot more to say on the topic judging by the continued action down as there is an awful lot of shares to dump yet, so this is going to get ugly and desperate, which is why the price continues to collapse. What would make anyone buy, certainty on FCA, what would make anyone buy without that, pure speculation on what the FCA outcome will be, so not invest able in short. |
Posted at 16/2/2024 09:10 by pj84 Shore capital downgrade their recommendation from buy to hold following the dividend cut but mentions this at the end of the article."The shares were already down 50% year-to-date, which Greenwood said reflected ‘market concerns about the potential outcome and impact of the FCA’s review and pre-empting a dividend cut’. ‘While income investors will no doubt be deeply disappointed by the dividend cut, we note that the shares are currently trading on a very distressed price/tangible net asset value of just 0.4 times, this being among the lowest in the sector,’ he said. ‘Should the group manage its way through this scenario, there could be significant medium-term upside to the shares.’" |
Posted at 15/2/2024 11:48 by datait This will fall much further, many working from home don't need their cars. Many investors here will sell with no divLloyds will do well off setting this as loose change after interest rate rises. |
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