Close Brothers Share Discussion Threads

[markktm] 19/5/2009 14:40

Board been quiet.... nice rise here & have held with it...

Any views on where this is heading?????

[rampmeister] 06/5/2009 17:10

Nothing can stop the onward march towards 700p.

RM

[jarjar] 22/4/2009 23:24

this is a donkey to push over 600p just now
I am convinced it will go over soon
but when is the question hard to judge

[fast investor] 25/3/2009 16:12

Well over 600p I reckon.

Broker upgrade out late yesterday...

Close Brothers Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Arden Partners
24-03-09 BUY 105.00 54.80 43.00 96.00 50.30 47.00

[jarjar] 20/3/2009 16:41

we have broken out of the downward trend
how high will it go over 600p - if any ?
625 - 650 range perhaps - any views ?
the results were better than most banks
look at the top right chart please

[bloodsports] 19/3/2009 11:42

I the results were impressive-compared to a lot of other banks etc. They seem positive and dont seem to have a funding problem. Hopefully they can benifit form this- when the upturn comes as the competition will be too weak to benifit.
The capital ratios seem very strong also means less chance of a rights issue or divi cut.

[fast investor] 16/3/2009 10:57

On a lovely momentum run this stock and doesnt have the problems of the main stream banks.

[fast investor] 11/3/2009 15:24

From The Times March 11, 2009

Not even a Close callDavid Wighton: Business Editor's commentary.

CLOSE BROTHERS is now in a club of one, the only sizeable listed UK bank that has neither tapped its shareholders for fresh equity, nor even cut the dividend.

The bank, whose roots go back more than 100 years to financing a railway to serve the Yukon gold rush, evidently knows when to be swashbuckling and when not to be.

First-half results yesterday were respectably resilient. The bank is still making profits from its curious mix of small business banking, securities market-making and M&A and restructuring advice.

And it still has a solid balance sheet with enough of a cushion to withstand the soaring bad debts it acknowledges are coming its way. It's even successfully expanded into taking ordinary deposits. Respect!

[fast investor] 11/3/2009 14:22

Brokers seem pretty upbeat about the company and rating on circa of 10 going forward into 2010 is cheap, too cheap imho.......

Close Brothers Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Numis Securities Ltd
10-03-09 HOLD 100.60 51.40 39.00 103.80 53.00 39.00

Teathers
04-03-09 BUY 53.63 39.00 47.43 39.98

Arden Partners
02-03-09 BUY 105.00 54.80 43.00 96.00 50.30 47.00

Shore Capital
09-02-09 HOLD 106.20 52.90 39.00 82.80 41.70 39.00

2009 2010
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 105.00 53.28 39.00 96.00 48.72 39.33
1 Month Change -0.66 0.01 -0.32 0.00 0.01 -0.64
3 Month Change 1.52 1.59 -1.00 -27.80 -5.90 -1.63


GROWTH

2008 (A) 2009 (E) 2010 (E)

Norm. EPS -30.58% -16.84% -8.56%
DPS 13.24% 1.30% 0.85%

INVESTMENT RATIOS

2008 (A) 2009 (E) 2010 (E)

Dividend Yield 7.24% 7.33% 7.39%

Dividend Cover 1.66x 1.37x 1.24x

PER 8.30x 9.98x 10.92x

PEG -0.27f -0.59f -1.28f

Net Asset Value PS 343.44p 535.00p 538.00p

[silverfern] 10/3/2009 07:30

Statement is as positive as I could hope for right now. WHat is pertinent is it shows that there is business being done in the banking/investment sector and that you can still turn a profit. WHen the fog clears I thin this could be a useful buy, but I'll wait to see city reaction to the presentation later today

[rampmeister] 04/3/2009 23:47

Interims due 10th March 2009 - maybe we will see a small surge over next few days.

RM

[cnx] 04/3/2009 04:46

anyone know when we get a trading update and interim dividend?

[guest16] 27/1/2009 14:24

Bloodsports,
"Could be badly wrong tho-like my buying of lloys a month ago!"

Ah if only. 'Fraid I bought my stake in Lloy a lot earlier than that!

As for cbg, I should've posted - conservatively financed - as much as conservatively managed. I think in these credit-starved times conservative financing is particularly reassuring. At the last accounts I believe cbg had a tier 1 ratio of over 14%. (Though if they suffered a slew of bad debts that figure wouldn't mean a great deal, just as an adequate capital ratio didn't do much for Hbos).

Still, as they put it in their last statement - challenging and unpredictable times. Their Corporate Finance arm isn't doing well given that M&A activity has dived, and their asset management division has seen declines in fees. Though their banking unit had seen some growth at stable margins.

Their next trading update should make interesting reading - maybe due late Feb, early March, at a guess.

[bloodsports] 26/1/2009 12:20

Guest-thanks for reply.

I have held for quite a while myself-prob 4 yrs or so.

I think if they stay intact and reasonably priced on the market they could continue to make staed returns in the longer term. A bit of a lack of liquidity in the world may help conservitivly managed mechant banks like close-if they can keep themselves out of problems till stablity returns. Could be badly wrong tho-like my buying of lloys a month ago!

[asmodeus] 22/1/2009 19:36

Re: cg1953@s 132 above - I have in front of me a cutting from the Daily Telegraph dated 15th December 2008 reporting that Anthony Bolton had been telling investors to "prepare for a new bull market early next year (2009), led by Banks and property stocks" !!! What hope have we amateurs got if one of "the most respected fund managers" can get it so wrong? Of course, he may well still be right, it's just that there seems to be a bit of a fall just before the rise?

[guest16] 21/1/2009 15:05

Now that you've asked that question it'll probably be less than a quid by Easter.

P.S. I'm a holder in CBG. And yes, it has held up better - it appears more conservatively managed than most other general financials/banks - but then people once thought that about Lloyds Bank ...

According to RNS, Cazenove have opened a short position in CBG so there's someone who isn't a fan.

[bloodsports] 21/1/2009 10:29

Why is this not effected and battered as badly as the highstreet banks have been and some of the other merchant banks/ What is the difference?

Cheers

[cg1953] 20/1/2009 12:39

listening to antony bolton several months ago, he suggested moving out of inflated commodities and into, selectively, slowly and carefully, the beaten up financials !!!! lol
as they say timing is everything !!! but guess this bear is going to prove everyone wrong.
even the guru of modern investing, warren buffet, has gone spectacularly quiet of late !!!!
today the news looks absolutely diabolical.

[roidstermuthafukk] 20/1/2009 10:59

yes agree...but youd still be effing mad to be buying it at this time!

[cg1953] 20/1/2009 08:42

IF i were to buy a financial stock today; then this would be my choice.
superb management proven over decades.

[unique22] 18/1/2009 22:15

anyone have any info , interesting stuff on cbg ? is it worth buying at this low ?

[markthetrader] 08/1/2009 18:06

Anyone have any ideas what the stock might do once the shoring ban is lifted on the 16th?

[silverfern] 27/11/2008 08:22

there are many quiet threadsd right now, and many shares are falling to new lows in spite of marginal wider market stability. What's to say? When this stops falling it might be a useful buy but I'm not sure.

[jarjar] 26/11/2008 17:44

ssssshhhhh - let no one disturb the tranquillity of this thread