Provident Financial Share Discussion Threads

[wad collector] 17/6/2011 17:10

The shorters still haven't managed to get the price down.Disappointing as I am still waiting to buy some more for the long term.

[nellie1973] 13/6/2011 10:16

Broker note out-BUY target 1150p

[wad collector] 06/6/2011 11:15

If the shorters manage to drag this down I will be happy ,as I will top up.They are losing at the moment though.

[orangerabbit] 20/5/2011 13:51

agree but given the concerns and level of shorting, the short-term prospects don't look good. I think further down the road there will be upside but mainly as a result of short-covering. after that, who knows - it's not that complicated a business and they have a niche.

[wad collector] 20/5/2011 10:20

As you say , but hard to know the magnitude of the problem.Prov has ridden a fair few storms over the years.

[orangerabbit] 19/5/2011 15:32

following the PPI mis-selling figures from lloyds, co-op etc.. they should follow suit. If you google "vanquis PPI" it's not a pretty picture

[wad collector] 19/5/2011 12:09

Numis are predicting EPS of over £1 a share next year.Looks like a strong hold to me.

2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Numis Securities Ltd
06-05-11 ADD 156.80 87.20 68.60 186.20 104.90 76.50
Shore Capital
06-05-11 BUY 158.30 83.10 66.40 171.60 92.20 69.70
Evolution Securities Ltd
05-05-11 ADD 157.00 83.90 171.10 91.20
Keefe Bruyette & Woods Ltd
03-05-11 UNDP 84.20 65.00

[orangerabbit] 17/5/2011 12:30

has anything been said about PFG's provision for PPI mis-selling as yet?

[wad collector] 11/5/2011 08:32

xd 38p this am.One small director sale yesterday but he still holds a lot.

[lidad66] 10/5/2011 10:02

xd week this week nice rise today interesting to see where it will finish on friday hope it is over 10 with the nice divi..

[wad collector] 21/4/2011 20:14

Back over a tenner for Easter.Wonder how many shorters are getting nervous.

[jonwig] 04/4/2011 08:13

The bond PF16 was issued last week. 7.5% coupon redemption Sept 2016, hence good timing for ISA inclusion.

I don't hold the ords, but the bond looked good value.

[wad collector] 11/3/2011 19:42

The Independent was advising Sell last week, because the hedge funds are betting the shares will fall."Provident is secretive about its cash position and analysts suspect it can't afford its dividend".


However ;

Peter Crook, chief executive, said: "People who shorted the stock have lost a lot of money as the share price has rallied since November.

"We have very tight lending criteria. There are lots of people carrying too much debt ... we don't lend to them." He said the cuts would affect about 1 per cent of customers.


Funds including Odey Asset Management, Adelphi Capital and Fortelus Capital have reduced their positions in the last few days, according to the company. The proportion of shares in Provident shorted has fallen from 20.7 per cent in January to 17 per cent but it remains the most shorted stock in the FTSE 250, according to Data Explorers.




Hedge funds shorting seems to be a self -fulfilling prophecy these days, but to a long term holder are largely irrelevant.More fool those who sell at the dips.The balance sheet looks strong enough to me.Happy to hold, and hoping that the shorters can let me buy some back cheaper soon.

[wad collector] 09/3/2011 13:06

Trying to make sense of the Directors dealings- looks like they have transferred in newly bought options and all sold about 50%- presumably to cover CGT.

More broker guesses.If next years dividend estimates prove correct , then these will yield around 7.5% at todays price - remain a bargain in my view.

2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Shore Capital
04-03-11 BUY 157.00 83.10 63.50
Evolution Securities Ltd
01-03-11 ADD 157.00 83.70 66.50
Numis Securities Ltd
01-03-11 ADD 159.00 87.20 68.60 185.80 103.10 76.50
Keefe Bruyette & Woods Ltd
01-03-11 UNDP 156.30 84.20 67.40 172.30 92.80 74.

[wad collector] 04/3/2011 09:51

You were right about 950.I was hoping it might go lower as I am looking for a buy-back.That's the only good thing I can see about the shorting.Bizarre that some holders sell - though I suppose a lot is automated.

[bench2] 01/3/2011 17:35

results looked fine , but maybe some bulls were looking for a small inc in the divi . Co v. overbought at 1040p so pullback to 950p only to be expected. SS still being pasted.

[wad collector] 28/2/2011 10:04

Dunno, don't care , they seem to be wasting their money however many there are.They will be disappearing back into the drains soon I reckon.

[wessie] 25/2/2011 16:30

Rising nicely into the results on Tuesday, it will be interesting to see how the market responds.
Does anyone know if the shorts have increased or reduced during the last month? I read somewhere, a month or so ago, that this was the second most shorted company.

[losos] 23/2/2011 11:50

How much do PFG now own in the overseas operation??? Anyone know???

[wad collector] 17/2/2011 23:19

More shorters coming out of the drains.The last lot must be getting nervous.

[wad collector] 15/2/2011 12:05

Allowing for the share split 3 yrs ago , we are now at an all time high I believe.Impressive compared to the FTSE100.
The brokers are still pretty positive.Even at £10, the projected yields go from 6.2 to 7.2%.Better than Tesco bonds.

2010 2011
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
14-02-11 BUY 144.00 78.40 63.50 153.00 83.90 67.00
Shore Capital
11-02-11 BUY 144.30 77.70 63.50 157.00 83.10 63.50
Arden Partners
10-02-11 NEUT 136.50 73.50 63.50 149.50 80.10 64.10
Evolution Securities Ltd
08-02-11 ADD
Numis Securities Ltd
04-02-11 BUY 141.20 77.20 63.50 161.70 89.00 71.80
Keefe Bruyette & Woods Ltd
02-02-11 UNDP 144.10 77.66 63.50 156.30 84.22 67.38
W H Ireland Ltd
02-02-11 BUY 136.00 73.60 63.50 156.30 84.30 69.50
Execution Noble
13-01-11 BUY 141.30 77.30 63.50 156.40 85.60 68.70
Collins Stewart

[wad collector] 14/2/2011 16:45

Another shorter.May they burn in Hell...

[wad collector] 11/2/2011 12:44

Poor Blackrock.

[ibrox] 10/2/2011 01:05

They are still trying adn the share price still rises, one day they may buy back...