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ALD Aldermore

312.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aldermore LSE:ALD London Ordinary Share GB00BQQMCJ47 ORD GBP0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 312.40 312.40 312.60 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Aldermore Share Discussion Threads

Showing 2926 to 2948 of 3825 messages
Chat Pages: Latest  129  128  127  126  125  124  123  122  121  120  119  118  Older
DateSubjectAuthorDiscuss
18/3/2016
11:06
The chart looks encouraging too.
matt
18/3/2016
09:11
UK challenger banks: OneSavings Bank, Aldermore, Shawbrook among the lenders seeing a bounce-back

Challenger banks are bouncing back after months of share price weakness, with the markets rewarding smaller listed lenders for posting double-digit increases in profits, lending and customer numbers.

aishah
16/3/2016
10:32
So Mr OSborn
Are you going to ramp up the threshold on the additional tax on challenger banks up to £200m from £25m ??

steptoes yard
11/3/2016
09:42
JP Morgan reiterate OVERWEIGHT and set 275p target (270p previously)
aishah
11/3/2016
09:17
re: SHAW

Wonder if SOF who hold 44.6% (111m) of the equity are looking to sell more. They last sold 25m in November with a lock-up period of 90 days thereafter.

aishah
11/3/2016
08:00
Adding to Glasshalfull post above, IC made SHAW a share of the week last night choosing them above ALD which was mentioned, they had following numbers for SHAW, with divis pencilled in:-

Year Rev Pretax EPS Divi
2013 60 16 5.1 nil
2014 112 45 13.8 nil
2015 165 68 21.0 nil
2016* 213 110 32.2 4.0
2017* 263 146 42.1 12.1

paleje
11/3/2016
07:41
Tempus gave a 'so what' view this morning:-

The business model of Aldermore, one of the new challenger banks, cannot help but remind one of an old-fashioned building society. It takes deposits from investors and lends them out at a higher rate. Most of the lending is to small and medium-sized businesses, though a bit less than a quarter of the loan book is for residential mortgages.
The first set of full-year figures since its stock market debut a year ago showed deposits and loans growing at roughly the same rate, just short of 30 per cent. Loans were up by about £1.3 billion to £6.1 billion, and they can be expected to grow by this amount into the appreciable future.
The main capital ratio is 11.8 per cent, safe enough for a bank with no outstanding legacy issues and a clean enough loan book. Return on equity is just short of 20 per cent but will moderate as the UK bank tax surcharge kicks in.
The growth will come from its low market share, even if conditions are becoming more competitive. There is no dividend, but there will be one in due course. The shares, floated at 192p, lost 5¼p to 211p. All those numbers are favourable enough but it is hard to see a catalyst for a purchase.
Core capital ratio 11.8%
MY ADVICE Avoid for now
WHY Bank is doing the right things, but no reason to buy

paleje
10/3/2016
16:29
Too many unknowns here for me...so I am out. May revisit after the budget
nurdin
10/3/2016
16:29
I don't currently hold ALD but recently took a position in SHAW.

The undernoted SHAW update may be useful as reference in connection with my earlier update on ALD.

SHAW - Didn't think I'd be presented with an opportunity to obtain stock in the 270's.

Numis upgraded forecasts by 10% in the current year and 11% next following results. The upgrades indicate Numis's 29.5p becomes 32.3p this year & they move from 34.0p to 37.7p next.

Peel Hunt have also initiated coverage on ALD, SHAW & OSB indicating SHAW their preferred play. I've previously held a position in ALD but their BTL exposure is certainly weighing on market sentiment.

"Underlying PBT up 63% to £80.1m and ahead of consensus for £78m.

Group reported an improved cost of risk at 24bps (2014:36bps ) and the cost to income result (48.3%) continued to improve and looks on track to be below the 40% target by 2017.

The group NIM for 2015 improved to 6.2% from 6.1%. The CET1 ratio remains robust at 14.4% (2014: 11.6%). SHAW reiterates confidence in its near and medium term outlook. No changes to our forecasts (2016E PBT/EPS £98.1m/29.4p) ahead of the meeting. Our DCF model suggests 15% upside.

We forecast.... deliver an average ROE of 19% and the shares trade at a 2016E P/NAV of 1.8x or 2016E PER of 10x.

Shawbrook is our preferred pick in the specialist lending ('challenger bank') segment given its diversified lending mix and capital strength, leaving the group well positioned to deliver sustained growth. We maintain the Buy recommendation."


Regards,
GHF

glasshalfull
10/3/2016
16:25
A bloody awful day. I can't quite believe what I've seen.
investordave
10/3/2016
15:59
ALD snippet from Peel Hunt.

TP 225p

"First final results post IPO last March. Underlying PBT up 75% to £99m and ahead of our estimate for £94.7m. Group reported an improved cost of risk at 19bps (2014:23bps ) and the cost to income ratio (51%) continued to improve and looks on track to be below the 40% target by 2017.

The group NIM for 2015 improved to 3.6% from 3.4%. Originations over 2015 were up 10% to £2.6bn and the net loan book increased by 28% to £6.1bn. Aldermore is well capitalised with CET1 as at 2015 year end at 11.8% (2014: 10.4%). Aldermore remains confident in the resilient UK economy but warns that the Brexit referendum introduces risk and uncertainty.

No changes to our forecasts (2016E PBT/EPS £123.6m/26.9p) ahead of the meeting. Our DCF model suggests 4% upside.

We forecast that Aldermore will deliver an average ROE of 17% across the next 3 years , marginally below the peer group (average ROE of 21%) but still see upside in the shares as the group demonstrates it can sustain and potentially improve ROE. The shares trade at a 2016E P/NAV of 1.4x or 2016E PER of 9x"

Regards
GHF

glasshalfull
10/3/2016
15:48
But look at SHAW - down 5% today or OSB down 7% - so ALD has actually outperformed by some margin based on these results. For some reason the market has worries about the challenger banks today.
future financier
10/3/2016
15:36
One metric on which ALD falls down compared to others is RoE:

ALD 18.9%

SHAW 28%

OSB 31%

Perhaps that is what is behind the lack lustre response to otherwise great results?

nurdin
10/3/2016
15:17
ALD made a stupid mistake in failing to say anything about a divi. And it is shear madness that MTRO is worth 2 1/2 x ALD - when MTRO cannot even say when they might make a profit let alone pay a dividend.
future financier
10/3/2016
14:06
SHAW, OSB also being hammered these last few months. VM. seems to be the only one that has done ok. Also hold OSB, expect results to be OK but probably hammered even more!
gorilla36
10/3/2016
13:13
I too feel this is a hugely disappointing Market response to some fantastic results that have produced increased business and profits across the board. However, I was hoping for some hint of the maiden dividend that was suggested to start next March 2017 when ALD floated on LSE. Apart from that, results appear to have well exceeded expectations and certainly don't warrant slipping into negative territory on the back of them, clearly this Challenger Bank doesn't, as yet have market sentiment on its side. I suspect its more likely the 'Market' is up to something to our detriment and is playing its usual tricks.
mazarin
10/3/2016
11:48
SY - what you are forgetting is that the rest of the banks are for the most part even worse. Hence the opportunity for the likes of ALD and SHAW.

And as for MTRO - don't make me larf!

future financier
10/3/2016
11:12
nurdin, results were great, just needs the budget cloud lifting.
celeritas
10/3/2016
11:12
I think Osbourne is trying to completely eradicate the small time private landlord. I can see prs companies taking this over in the years to come, buying with shareholder funds rather than debt.

Who knows what to expect from the budget, another tax to add to the many constraints he's already placed over the last year.

celeritas
10/3/2016
11:06
Investordave

No, just bought more.

All the best.

toyin
10/3/2016
11:03
Looks to me as if brokers have already taken that 8% additional tax into account in their earnings estimates for 2016.Despite that, the PE remains under 8x.Crazy
nurdin
10/3/2016
10:53
I was one of them Celeritas, down big time on the stock despite trying to average out:(
reddave999
10/3/2016
10:53
I can't quite believe that the share price is now down despite the terrific results that we have seen. What the hell else is the company supposed to do?
investordave
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