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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
|
|
|---|---|---|---|---|
| 0.60 | 0.18% | 331.80 | 10:23:55 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 331.00 | 329.40 | 338.80 | 331.20 |
| 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 |
| Top Posts |
|---|
Posted at 25/2/2025 06:21 by stoopid Another short above 0.5% yesterday apparently? Yet price still rose at end of day to close nearly even. Interesting times ahead with CBG. Wonder when the CBAM money comes through if it will boost the share price significantly? With projected "profits" of 100m to 150m this year that means CBG are currently sat on a PE of approx 4. Too cheap by half? Will the supreme court throw a spenner in the works or resolve this issue favourably for CBG and other lenders? Not long to wait now... |
Posted at 15/2/2025 17:58 by popit apple“As I have written above, I don't think it's a binary outcome from the supreme court. Yes they could reinstate the initial court outcome (CBG, STB etc will fly)” I think STB may actually offer much better value than CBG They are on a forecast PE of about 3 and they are still paying a dividend of over 7% OSB are also very good value on a forecast PE of 5 and a dividend of over 7% and without the court case risk OSB have not really kept up with the share price rise of the other UK banks and so it may not be long before a bidder comes calling |
Posted at 13/2/2025 22:10 by jaknife Blackhorse23,"Group is facing significant cost and car financing payout , hence no dividends next few years, if so share price will decline gradually… investors will not be interested" You're assuming that CBG don't win the appeal against Hopcraft: If CBG win then it's stupidly cheap. JakNife |
Posted at 12/2/2025 09:19 by chriss911911 Nop, don't pay much attention to NAV, what matters is can they make money from those debt assets or not, if they are weak on margin and carry claims, they are as much a liability than asset, hence the valid discount the more discounted the more a red flag. The key driver for the share price is ability to sustain and grow their ability to make money and return to shareholders, they can do it with £1 or £500bn of assets for all I care. The second part their confidence to return earnt cash as dividend.So,what can they generate less costs out, they need to build balance sheet, and then what sort of return can we expect = 0.5bn about right , and an assumption they dividend out say 1.5x cover, before they did not have meaningful cover, and the dividends were always going to be cut. The valuation to get above 0.6bn and back above 1.0bn would have to be dividends and certainty on the supreme court this was always an income play not growth stock, dull uninteresting, but regular modest return for years, long way of that now, but probably fairly priced, but then not interesting, but with risk, could trade in narrow range, and looks very weak now, I think day traders will be heaven. IMO |
Posted at 27/12/2024 22:12 by cobourg1 1. What written law was CBG breaking? What FCA rule was it breaking?2. It might be argued that it was breaking a common law principle that the intermediary owed a duty of care to the buyer. What does that mean in practice? Bit vague and open to dispute isn't it? Has the car dealer or broker got to jeopardise his own business by pointing out that a rival is offering a cheaper deal? What happened to "Caveat Emptor" - the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made. 3. If this was the case why didn't the FCA point this out to the lenders and demand that it be stopped years ago. Don't the FCA understand British law? 4. If CBG are guilty, then so are all the other brokers and intermediaries who have been arranging finance for everything else from time immemorial. I don't remember my Insurance Broker pointing out that if I used a comparison site I could probably get a cheaper insurance deal than he was offering. Double glazing, sellers of kitchens, sellers of furniture, sellers of cruises, the list goes on. A judgement in this direction will cause years of litigation and legal cases. It simply can't be allowed to happen IMO. 5. On what basis can regression prior to 2019 be justified? Why only for a few years? Why can't we go back through the mists of time? The stable door was shut in 2019, why can't a line be drawn through this at that point? I think the Supreme Court are likely to do just that. 6. I am not a lawyer but I still have sufficient belief in the legal system to think that common sense and common justice plus pressure from the Treasury will prevail in the end. If this happens there will be a massive re-rate coming for CBG and the other lenders, so I am betting accordingly. 7. If I am abiding by a law as it stands, but the law is changed, how can I be penalised for breaking the new law before it had even been instituted or was in force? That's what regress amounts to surely. 8. There seems to be a generally accepted view that CBG and the others will inevitably have to pay substantial compensation, perhaps they will, but I don't think this is inevitable at all. Just an interested layman's opinion of course. Anyway good luck to all and best wishes for the New Year. |
Posted at 19/11/2024 16:44 by karv1 CbG V vanq both have great risk. Both have over 400k of motor customers/ CBG with probably a lot more.CBG could be hit by the FCA review and commissions but at least it actually makes money worst case might not have enough money, value 300m could drop more. but people could make huge returns. Vanq is a loss making company even in the last quarter with the 60 million cost saving for this year. Value 100m could go down more but the 100m value will pull a lot gamblers in. If they can turn it around there could be good returns. Depending on the commission situation, there interest is sky high so I bet they pay very high commission to dealers/broker to get those customers on sky high interest. Both CBG/VANQ hold a few hundred million in intangible assets/worthless but CBG actually hold more real money and at least it has banked 400m. I have been in both currently in neither. I am watching both though. |
Posted at 08/11/2024 22:51 by pj84 Well if you are looking for a more positive post.I will start by saying the share price is likely to remain depressed until there is anymore clarity on the eventual outcome from the Hopcroft case. Having said that the latest adjusted eps was 76p share and that would normally support an undemanding of market cap of about £8 (a PE of just over 10) which is roughly where the share price was before the main slide started with the motor finance review. Not too long before that it was even higher at around £10/share. The market cap with a share price of £8 was around £1.2 bn and it has dropped £900m since then to a current market cap of just over £300m. RBC's previous worst case scenario (not their base case scenario) was £420m and if the Hopcroft judgement widens the exposure their new worst case scenario is £640m. So arguably a drop of £900m already in the market cap more than reflects that worst case scenario. CBG has suspended the dividend to bolster it's capital and at the moment it is fairly certain that will continue next year and until this whole situation is both clarified and dealt with. Whatever the outcome it is unlikely it will all be dealt with in a single one off write off and is likely to remain uncertain for some time which should allow CBG more time to continue to bolster its capital position. If, however, there is a clear need to write of £640m next year and that a draws a line under the issue then CBG might need to raise capital but once it is dealt with what would the new share price be once the adjusted eps is again around 76p without any further write offs? The above is based on the current worse case scenario but whilst it looks unlikely what would the situation look like if any of the appeals are successful. As I say the share price is likely to remain depressed for the time being but I don't subscribe to the view that this is curtains for CBG. |
Posted at 27/10/2024 21:53 by stoopid Whether you agree or not, CBG is nothing like Amigo. Not even the same circumstances.It may go under like Amigo, yes that's true.but unlikely. Amigo was a sub prime lender who went bankrupt after being unable to pay the compensation ordered by the FCA due to totally improper lending practices to people who could never afford the loans.CBG and FCA is an argument over DCA (Discretionary Commission Arangements) and CBG have, or will have, 400m+ in cash to cover any fines and compensation. Big problem is that no one knows what CBGs liabilities will be. £400m has been mooted, might well be more.As has already been pointed out. This is now a total mess with no dividends for the foreseeable future and investors will stay well clear because of the uncertainty and possibility of disaster. CBGs future is all dependent on the following 3 things;1 The Supreme Court and it's view of the appeal courts decision.2 Barclays Judicial Review of FCA investigation3 The FCA and their decision on quantum, any fines and requisite compensation. Pays your money, takes your chances. |
Posted at 10/10/2024 20:48 by popit Your forecasts have no connection to the general consensus of analysts and brokersMarket Screener has an average analyst consensus eps for CBG of 80p for 2026 and 90p for 2027 And an average analyst consensus dividend for CBG of 30p for 2026 and 45p for 2027 So CBG has an average forecast PE from analysts of only 4 And an average forecast dividend yield of over 12% I think most investors here will be more likely to follow the consensus of various analysts and brokers rather than your own forecast According to all of these valuation measures : 70% discount to a NAV of £11 forecast earnings per share of 90p and a PE of only 4 forecast dividend yield of over 12% CBG shares are extremely undervalued |
Posted at 21/9/2024 02:00 by popit chrisRBC is by far the most pessimistic broker about the possible motor liability for CBG and they have a Target Price for CBG shares of £6.20 So the upside for CBG shares is significant even according to the most pessimistic RBC forecast of a total liability of £350 million Most other brokers and analysts have a total liability for CBG of somewhere between £100 million and £200 million and CBG have already set aside far more than this by strengthening their capital by over £400 million Remember the dividend that was not paid for 2024 saved £100 million for CBG and if CBG do the same again for 2025 then the £200 million saved can be expected to cover almost every liability that has been forecast by analysts The shares have also already fallen by over £600 million since the FCA news and so many would say that the CBG share price has already fallen by about twice the most pessimistic forecast liability of £350 million from RBC The early share price reaction to the good results on Thursday was to rise to £5.50 as the eps of 76p would suggest that a dividend of about 40p will be easily affordable in 2026 at the latest and perhaps also in 2025 The selling that then took the shares below £5 did not seem to have any rational reason behind it The results were good and the outlook was good and the sale of CBAM for £200 million will also make the balance sheet even stronger going forward and CBAM was also not a very significant contribution to CBG profits anyway So if even the most pessimistic broker RBC sees a significant upside of £6.20 for the CBG share price with a total motor liability of £350 million, then the lower and the average expected liability of somewhere between £100 million and £200 million will probably see a share price for CBG significantly higher than £6.20 |
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