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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Close Brothers Group Plc | CBG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 8.80 | 1.89% | 475.00 | 10:09:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 465.00 | 465.00 | 479.60 | 466.20 |
| Industry Sector |
|---|
| NONEQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 26/09/2023 | Final | GBP | 0.45 | 19/10/2023 | 20/10/2023 | 24/11/2023 |
| 14/03/2023 | Interim | GBP | 0.225 | 23/03/2023 | 24/03/2023 | 26/04/2023 |
| 27/09/2022 | Final | GBP | 0.44 | 13/10/2022 | 14/10/2022 | 22/11/2022 |
| 15/03/2022 | Interim | GBP | 0.22 | 24/03/2022 | 25/03/2022 | 27/04/2022 |
| 28/09/2021 | Final | GBP | 0.42 | 14/10/2021 | 15/10/2021 | 23/11/2021 |
| 16/03/2021 | Interim | GBP | 0.18 | 25/03/2021 | 26/03/2021 | 28/04/2021 |
| 22/09/2020 | Final | GBP | 0.4 | 15/10/2020 | 16/10/2020 | 24/11/2020 |
| 24/09/2019 | Final | GBP | 0.44 | 10/10/2019 | 11/10/2019 | 26/11/2019 |
| Interim | GBP | 0.44 | 09/10/2019 | 11/10/2019 | 26/11/2019 |
| Top Posts |
|---|
Posted at 16/4/2024 04:05 by stoopid There is a lot of waffle and wild speculation going on.No one knows a thing atm because CBG haven't released anything or made any provisions. Only LLOY have announced anything with a £450m write down/provision already, and they are up 15/20%.The big gamble with CBG will be when the FCA announce their investigation results and CBG make appropriate provisions and pay any fines.Pays your money takes your chances. Personally I have followed the big boys who will undoubtedly be more informed than this board and bought a fair few, well, for me that is. Before all this hit, CBG were undervalued at 780 because of all the provisions for various things including their disastrous foray into Novitas which cost £180m in provisions. Winterflood their asset management division has also underperformed. This has all now cleared the books. So, if CBG were undervalued at 780 and this FCA issue turns out to be a storm in a teacup then with 200m+ in profits 780 will seem cheap. If the FCA investigation is disastrous, then a lot of us holders will lose a lot..... |
Posted at 01/4/2024 22:24 by cirlbunting1 @riverman77 - the cancellation of divis was sufficient for him and many other fund managers to liquidate their positions. It’s essential to consider that CBG has only suspended dividends twice in the past ~30 years (during COVID and now). He likely lacks the same level of insight as CBG, so if CBG suspends their dividend, it's more than likely it is due to a careful consideration and logical reasoning from CBG's part. In addition, despite me owning this stock, I have also made a claim, as too have a few members of my family. More than likely we wont get anything - but worth a shot to see how legit these claims are. |
Posted at 01/4/2024 10:03 by popit CT’s Moss sells out of ‘uninvestable&Columbia Threadneedle’s David Moss used a short-lived recovery in shares of Close Brothers (CBG) to sell out of the beleaguered private bank. The stock was the largest detractor in Moss’s £117m CT High Income (CHI) investment trust in February after it announced the cancellation of its interim dividend in order to start building reserves to meet potential liabilities from the Financial Conduct Authority’s review of motor finance practices. Moss used a ‘small recovery’ in the share price to sell his position over the month. ‘The FCA review will not report until September and, as we are unable to accurately assess the potential redress payable from the review, we felt the stock had become uninvestable, with the cancellation of the dividend removing one of the key reasons for ownership,’ he said. hxxps://citywire.com |
Posted at 01/4/2024 07:23 by suetballs A "consumer compensation expert" talking up his own book.Even the FCA is talking it down. I'll keep reinvesting all my isa dividends into cbg as imo the company is currently undervalued especially as they have decided not to pay dividends for the time being. Time will tell who is right. Suet - also we might even be taken over. |
Posted at 11/3/2024 10:10 by popit stoopid said"Also on a forward P/E ratio of 2 to 3 CBG look very cheap" Where are you getting these figures or are you just making them up ? Market Screener has a consensus forecast 2025 eps for CBG of 64p This gives a PE of almost 6 This is far higher than the 2025 forecast PE for other UK banks like OSB or STB and these other banks do not have the very large risk of an unknown liability CBG does not look like very good value when compared to these other UK banks It looks expensive |
Posted at 07/3/2024 04:00 by popit karvI think CBG may be very good value but that will depend on what the result of the FCA investigation will be I was also saying that other UK banks like OSB and STB are on a similar low forecast PE and they do not have any FCA problem or unknown liability OSB has a forecast PE of 4 and STB has a forecast PE of 3 The forecast PE for CBG may seem low but it is not so low when compared to other UK banks Even a huge bank like Barclays is on a forecast PE of 4 So I was saying that OSB and STB seem to be less expensive than CBG and they are also without the very large risk of an unknown liability If the CBG liability is less than £100 million then the shares are very cheap But if the liability is £500 million or higher the shares are not so cheap |
Posted at 23/2/2024 21:03 by popit It is not nonsense to say that a liability of £1 billion for CBG could require a rights issue or perhaps receivership and liquidationWhat you have written however is real nonsense "If it does turn out to be a storm in a teacup it will be confirmed in an RNS one morning and the price will gap up to the £9 a share NAV" lol How can CBG confirm their liability in a RNS ? CBG have no clue what their liability will be The FCA will tell CBG what their liability is some time later this year CBG do not get to decide anything |
Posted at 16/2/2024 11:29 by chriss911911 I would be careful here there is a good reason why the price keeps falling, they need 10.5% capital ratio for regulator reasons, so arguably need at least 11.5%, the analyst estimate mostly 11.5% to 12%, not my numbers, theirs, so sailing to min needed without FCA penalty. What happens if you hit it with 200m of cash overnight, there is not enough capital headroom to meet regulatory requirements or is at the limit, so a capital raise is inevitable, but an if, right now that is the risk to capital.The yield was so high, because very high risk to be cut without this FCA issue. The risk was even worse of course when it became known, but lets not forget they were already heading to issues with covering dividend with falling capital ratio, and growing impairments, the clues to this debacle were there in the last annual reports. Using averages is okay, but not in isolation, the carve out to Close is too generous they ean't higher, for longer and deeper across the business, the relative payouts if they come will hit much harder yet they are relatively small institution, so a real problem relatively speaking compare to peers. What we don't know is the overall FCA ruling. The 99m on divi they were pushing out, was too much and not sustainable causing capital ratio to erode, 50m is more realistic to rebuild capital but hang on we have also maybe 200m to find, too, so maybe forget any dividend for a few years if the penalty does not force a debt/equity raise which at this rate will be for peanuts, killing any chance of a return. They have already hinted of no dividend next year, dependant on FCA ruling. Why would invest for a small return, when the value was all in predictable income, take that away, and add in high capital risk, then there is not much value in the shares, because if you win, you might get back to £600m market cap, if you lose, you could see a heavily diluted capital position, sub £200m, risk reward is unbalanced. If you cannot pay cash out because you don't have the capital coverage, and they think they will not, which is why divi cancelled, otherwise they don't do it. This is not a capital gain thing, it is a structured income investment which yields income, it is not the same thing as a growth share, far from it, it's value, is ability to achieve income for investors, and low risk to capital, both are clearly in a very bad place. The funds holding this will not want to be holding it, if the FCA issues proves more divisive, or it impedes the quality of their reported yields, to them which is the case already. It's is worth more than the share price, so anyone's guess how low they are willing to go, and right now they have a lot more to say on the topic judging by the continued action down as there is an awful lot of shares to dump yet, so this is going to get ugly and desperate, which is why the price continues to collapse. What would make anyone buy, certainty on FCA, what would make anyone buy without that, pure speculation on what the FCA outcome will be, so not invest able in short. |
Posted at 15/2/2024 07:38 by jonnybig At last! Almost certain imo that they had to cut the dividend.There is a good chance there will be a favourable outcome regarding the FCA review in which case the 2024 dividend may be reinstated as a special dividend on top of the 2025 dividend. So if you're happy to make do with no dividend this year with a chance of an enhanced payment next year it's a worthwhile punt at this share price All imo and GLA!!!! |
Posted at 25/1/2024 08:00 by jonnybig Cbg should have cut the dividend last year following the huge provision as paying uncovered dividends can lead to problems.Yet another huge provision and Cbg could get into serious trouble maintaining regulatory ratios, etc. One to avoid until Cbg release an update. No wonder the share price is in free fall. |
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