Close Brothers Share Discussion Threads

[smackeraim] 30/8/2024 08:27

making a good move now. should be much higher into September

[suetballs] 29/8/2024 11:40

Yes - I am buying on a regular basis as and when I receive dividends from other companies. Small beer I know but I have already tripled my initial holding.
Suet

[thebutler] 29/8/2024 11:11

It is very likely the 67.5p dividend will eventually be restored, whether that is in a year or in 2 years.

So if you have the patience and don't need the dividend for a couple of years, buying CBG shares now is effectively investing in a 13% dividend on restoration.

Traders influencing the current share price are only interested in short to medium term wheeling and dealing so I reckon jump in there whilst the share price is so cheap.

[stoopid] 29/8/2024 09:05

Novitas write offs have cleared the books, Winterflood/Wealth management arm are doing better due to increased trading volumes and capital inflows. The loan book is highly profitable and has good margins. CBG was previously producing operating profits in the region of £250m ish a year before writedownsWith EPS in previous years of about 135/140 per share when "normal" profitability was going on suggests a P/E of about 3.8 at current price rising to a forward P/E of 4.2 at the upgraded price of 620.I think 620 is still woefully undervalued. If the divi were to come back at previous levels when it's reinstated the yield would be about 12%

[jonnybig] 29/8/2024 08:27

Probably just reversing the earlier ridiculously low price target. They make things up as they go along, they haven't a clue what they're doing.

spud

[tsmith2] 29/8/2024 08:16

once in a while

[tsmith2] 29/8/2024 08:13

Will be interesting to find out why RBC have upgraded so much

[suetballs] 29/8/2024 07:27

Considering the cancelled divi and cost savings 620 imo is still way too low for a ‘one off’ problem but Starmer could levy a windfall tax!
Suet

[bigbigdave] 29/8/2024 07:21

No sorry, only got the headline.

[tsmith2] 29/8/2024 07:11

big price upgrade - do we know reasons cited?

[bigbigdave] 29/8/2024 06:59

RBC RAISES CLOSE BROTHERS TO 'OUTPERFORM' (SECTOR PERFORM) - PRICE TARGET 620 (375) P,

[stoopid] 21/8/2024 23:45

I bought my tranch at 780, just before the price collapsed, then bought again at 298 and 350.My average is 410. So, im not complaining and will be holding this for return of the divi and a large capital gain. Before the Novitas debacle (CBG acquired Novitas in 2017 and wound it down in 2023 taking an approx £180m hit), the share price was over 1000 a share and they were doing well.Just need this FCA probe to be over....

[jonnybig] 21/8/2024 18:14

There's a very good chance the FCA outcome could result in a materially lower outlay, in which case I would expect a special dividend to cover most of the suspended dividend. A very worthwhile punt at this share price

spud

[cirlbunting1] 21/8/2024 16:10

The conclusion you've made now is one that few made when they bought in below 3 (myself included)

[tsmith2] 21/8/2024 14:27

base forming around this mark

[stoopid] 12/8/2024 19:50

Going to struggle until there is some news and provisions made/announced by CBG.No news on their trading arm/winterflood either....

[sbb1x] 01/8/2024 15:39

Taken a few.

[pj84] 31/7/2024 15:29

"The watchdog had said it expected to provide an update on its work by late September. On Tuesday, however, it said its review was taking longer than expected because many companies “have struggled to supply the data we need within the requested time”. It now plans to set out its findings by May next year.

The later deadline will allow the watchdog time to digest the outcome of a legal challenge by Barclays, the bank, against a Financial Ombudsman Service ruling that is likely to have a significant bearing on the authority’s work."

Let's hope Barclays is successful otherwise it looks like the regulator is leaning towards the finance companies paying compensation.

[dplewis1] 30/7/2024 08:49

Apologies, that seems to be a rogue headline on my workspace terminal .. not new news

[dplewis1] 30/7/2024 08:14

Close Brothers shares drop 3%; U.K. watchdog mulls motor finance redress scheme

[tsmith2] 29/7/2024 16:15

thin volume

[stoopid] 29/7/2024 15:22

Profit taking, i had considered selling half myself at about 540/550