Arbuthnot Banking Share Discussion Threads

[bubbleandleek] 09/11/2011 08:26

Very good news today re: the securities div being bought by Westhouse. I had factored in a £5m loss to shut the div next year if no buyer was found but this works out well. Obviously not good for the employees and i do feel for them but this is buisness and on we go. My px tgt now goes to 800p but taking into account mkt conditions and the relative illiquidity in the name 650p seems a much fairer valuation. Still a stonking buy sub 400p

[bubbleandleek] 07/11/2011 13:06

Go on then.... tell me why it's 'obviously' a SELL?

[homeboy35] 07/11/2011 11:35

blah blah blah...................... it's obviously a SELL.

[bubbleandleek] 07/11/2011 10:48

Chaps... do the simple maths on this one. CASH £15.8M, SECURE TST BANK HDG £81.3M, ARBUTHNOT LATHAM VAL £25M = £122.1M V a MKT CAP of £51M. It is well documented that the equities division is not doing well and would cost roughly £5m to close down. The share px is clearly not reflecting the the underlying value of this buisness (probably due to liquidity). I think at this px it's a no brainer and a return to 5 quid+ is easily achievable over the next 3-6 months.

[homeboy35] 06/11/2011 14:24

So how much cash are you throwing away investing in UK PLC?

LMCO!!!!!

[pvb] 06/11/2011 12:00

Because they are all owned by Zionist Masons homeboy35?

[homeboy35] 06/11/2011 06:56

get out of banks, mugpunters

[cnx] 06/11/2011 04:58

davebowler
can you publish the full edison report, please?

[davebowler] 02/11/2011 13:39

Arbuthnot Banking Group - Look at the parts PDF Edison report

Arbuthnot Banking Group (ARBB) today reported the successful float of 24.5% of its retail bank, Secure Trust plc (STB), on AIM. Arbuthnot raised £12.4m by selling part of its holding, received a £3.4m cash dividend and retains 75.5% of Secure Trust valued at £77m on the float price. ARBB also has a profitable, growing private bank. Even the most extreme downside for the securities division/centrals does not justify a combined group market capitalisation of c £51m – just two-thirds of the value of its residual holding in STB. The float also raised £9.8m new capital for STB.

Arbuthnot Banking Group is engaged in retail, investment and private banking and other financial services.
Year
End Revenue
(£m) PBT
(£m) EPS
(p) DPS
(p) P/E
(x) Yield
(%)
12/09 51.7 5.1
23.4
22.0
14.3
6.6
12/10 54.8 5.1 25.0 23.0 13.4
6.9
12/11e 55.0 1.4 5.3 23.0 63.2 6.9
12/12e 61.7 8.8 29.6 30.0 11.3 9.0

[pvb] 02/11/2011 12:10

Seems to have bumped up the ARBB share_ price. I wonder if it can be maintained?

[cnx] 20/10/2011 05:51

yes
i saw that but did not see a definition for "Qualifying"

[pvb] 18/10/2011 22:00

let's hope existing shareholders in arbb will be given an opportunity to participate at the ipo stage

Apparently not!

The Placing is only being directed at and made available to certain qualifying investors in the United Kingdom. The Placing is not being made available to the public.

[cnx] 08/10/2011 05:34

let's hope existing shareholders in arbb will be given an opportunity to participate at the ipo stage

presumably arbb will continue to have sufficient income from secure to maitain the dividend

[pvb] 13/9/2011 13:24

Scrip dividend details received.

[cnx] 24/8/2011 16:46

the following taken from recent interin statement
the share price seems badly hit over last few weeks in view of these positive comments
yield over 6%

"In view of the positive outlook for the Group's two banks, the interim dividend will be maintained at 11p (gross) and will be paid on 2 November 2011"
"As things stand at present, I intend to elect for the scrip alternative in respect of the whole of my shareholding, currently amounting to 52.8% of the issued share capital."

"Outlook

The management of Arbuthnot Securities will focus on efficiency and on our core areas of market strength. Despite difficult market conditions, concentration on these fundamentals should produce a marked improvement on the first half performance.

The outlook for the two banks is very favourable. They are generating strong organic growth in both lending and fee-based businesses. Also, both banks have excellent opportunities to accelerate growth through diversification into new products and by entering into arrangements with new counterparties or partners. Raising additional capital for Secure Trust Bank should enable the bank to accelerate its lending growth substantially and lock in a stream of profits for the medium term.

Taking all of these factors into account, the Board remains positive about the outlook for the remainder of 2011."

[ibrahim1962] 17/3/2011 12:21

Rating on Arbuthnot

[skyship] 13/1/2011 17:32

That pre-close Trading Update makes one wonder about the negative Update back in October - did they do it just to force me out of my trade - certainly I've taken it personally!!!!!

[cerrito] 11/11/2010 07:59

do not follow this very much but interested to see that GTL, in whom I have shares, has just dropped them as NOMAD and broker a few days after VML had done the same

[nealcowan] 21/10/2010 11:14

I didnt think this was on the cards. I managed to sell a few at 4.20. Tried to sell more but found it difficult to get prices near the price at the time.
I still think that Arbuthnot are well run and this may be an opportunity if it drops to £3.00 to buy in again. Lets hope the divi is safe.

[skyship] 21/10/2010 07:58

nealcowan - seems as though your underlying implication or concern was correct. Not a very encouraging statement...

[skyship] 13/10/2010 14:03

Presumably you're referring to the Update on 3rd Qtr trading - if not, then that was a fairly enigmatic comment!

Going on the wording with the Interims, a setback would be a surprise; so personally I would expect a continuation of the improving position. Nothing dramatic, so perhaps pretty neutral price-wise.

[nealcowan] 12/10/2010 08:17

I think they will make an announcement towards the end of this month if it is favourable do you think they may break the 450 level or is it time to take some profit?

[skyship] 11/10/2010 09:52

Bounced nicely off the 400p support - now approaching the recent resistance level yet again...