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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Close Brothers Group Plc | LSE:CBG | London | Ordinary Share | GB0007668071 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 457.80 | 451.40 | 453.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Asset - Backed Securities | 1.01B | 81.1M | - | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/5/2023 09:53 | Close Brothers remains a key holding, says Hargreaves Close Brothers (CBG) may not have had an easy ride, but Hargreaves Lansdown’s Steve Clayton says the private bank remains dependable and a strong dividend payer. The group reported 2% growth in the loan boost in the period from 1 February to 30 April this year and a stabilisation in net interest margins at 7.8%. The asset management division grew assets by £400m to £16.1bn. However, its Winterflood division, which offers the dealing of stocks and funds, saw subdued trading in the quarter. Close Brothers, which is rated A by Citywire Elite Companies, makes up 2.2% of both Clayton’s £302 HL Select UK Growth fund and £151m HL Select UK Income Shares fund. He said it has ‘not been an easy time of late’ as Novitas was a ‘bad acquisition’ and Close Brothers has ‘learned expensive lessons along the way’. ‘[The latest] update is the first in a while not to bring new bad news from Novitas and the market may well be relieved,’ he said. ‘The core banking operations are in rude health and Close Brothers’ balance sheet has long been the envy of many other bankers.’ While Winterflood is still ‘under a cloud’, Clayton said it ‘remains a fundamentally profitable business’. ‘Hopefully, the group has now put some of its problems behind it, which could allow the underlying progress in the core business to show through more clearly in the months ahead.’ The shares slumped 2.4%, or 22.5p, to 918.5p yesterday. 3 of 5 | pj84 | |
24/5/2023 07:30 | Steady as she goes trading update. No concerns about the balance sheet. Suet | suetballs | |
14/5/2023 17:08 | Article claims short interest is at 6%. Shorttracker UK reports 0.79%? Either the journalist got his research wrong or he has access to statistics under the reporting radar? Short sellers provide journalists with scoops ... quid pro quo? I'd expect selling pressure this forthcoming week ... that's usually the pattern of events in this murky world. | alex1621 | |
14/5/2023 16:43 | At the half year the company were keen to emphasise the business was coping well with the business cycle excluding the Novitas provisions and made a modest increase in the dividend based on the underlying income and if that confidence is maintained at the year end results then potentially the dividend yield will be 7.5%. The qtly trading update is due in just over a week and it will be interesting to see what that brings. Unless their is anything to suggest a cut in the final dividend hopefully the worst of the share price weakness has already been priced in. | pj84 | |
14/5/2023 13:51 | And the Daily Mail nicely pours petrol on the fire. That’s the media for you. What research have they done? Suet | suetballs | |
14/5/2023 13:39 | Hedge funds betting on major drop in price of Close Brothers amid wider fears about global banking By LUKE BARR, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:50 BST, 13 May 2023 | UPDATED: 21:50 BST, 13 May 2023 Hedge funds are betting on a major drop in the price of Close Brothers amid wider fears about global banking. The British merchant banker has been hit by a flurry of short-selling since a 'challenging' set of results in March, just days after the collapse of Silicon Valley Bank. Short positions make up just over 6 per cent of stock in Close Brothers, or almost £90 million, S&P Market Intelligence says. 1 • Fear: Close Brothers has been hit by a flurry of short-selling since a 'challenging' set of results This is far greater than at any other major UK bank, including Barclays, Lloyds and NatWest, which each have short positions against them of less than one per cent. Close Brothers has 4,000 employees, mostly in the UK and Ireland. | pugugly | |
14/3/2023 11:34 | Results not great, but regarding dividends they say: 'We are pleased to declare an increased interim dividend of 22.5p per share (H1 2022: 22.0p per share), reflecting our underlying performance and the Board's confidence in the group's outlook. We remain committed to the group's dividend policy, which aims to provide sustainable dividend growth year-on-year, while maintaining a prudent level of dividend cover.' | mister md | |
10/3/2023 15:46 | Yes - I think something could be afoot here. Suet | suetballs | |
10/3/2023 15:28 | Seems to be holding on to yesterdays gains fairly well ... | mister md | |
09/3/2023 14:07 | Only invested here last month @ 1005p for the dividends ... any additional bonuses would be more than welcome | mister md | |
09/3/2023 14:01 | Worth nearer £20 a share in a bid situation. | drw1 | |
09/3/2023 13:35 | Thought it was just a case of catchup with recent increases at Banks/Insurers, but a 10%+ daily gain is interesting ..... | mister md | |
09/3/2023 11:48 | Perhaps a takeover which is what I would prefer. Suet | suetballs | |
09/3/2023 09:52 | So is it a leak or a rumour? | bigbertie1 | |
09/3/2023 09:35 | Indeed, strong start today +7% | mister md | |
09/3/2023 08:48 | Results due Tuesday so the jump this morning was a bit of a surprise. Been pretty much in the red since I bought in a month ago. | davius | |
06/2/2023 10:33 | As Novitas is a hopefully a "one off" I would have expected the share price to pick up and it has. That said I would still favour a takeover - perhaps one of the big boys can divert some of their profits! Suet | suetballs | |
20/1/2023 08:56 | I was wrong Woodhawk. I'm not on here for point scoring, just giving my opinion. I didn't foresee today's update at all, it's a huge hit. I see the share price is recovering so I could be wrong again! | thebutler | |
20/1/2023 08:44 | Yes, but your call on 5-8-2022 wasn't too hot was it? "...confident they're now on an upward trend. The very good update released a couple of weeks ago seemed at first to have gone unnoticed." | woodhawk | |
20/1/2023 08:36 | Read the update before the open and thought this would tank to £8. Jumped ship at a 20% loss at £9.10. Terrible update and more of a fall to come imo. | thebutler | |
20/1/2023 08:28 | Maybe / possibly - but the management needs to really up their game. I should have moved on ages ago. Suet | suetballs | |
20/1/2023 08:28 | Looks pretty material to me... At 31 July 2022, Novitas had a net loan book of GBP159.4 million, net of an aggregate impairment provision of GBP113.3 million, representing coverage of 42% across the book as a whole. Year-to-date, GBP24.8 million of impairment provision charges were recognised in relation to the Novitas loan book. Assuming the anticipated additional impairment provision of up to c.GBP90 million is recognised in the group's H1 2023 financial statements, this would result in an aggregate impairment provision, net of write offs, of up to GBP183 million. On a pro-forma basis at 31 December 2022, this would represent a coverage of up to c.75% with a net loan book of c.GBP60 million. | elsa7878 |
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