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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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -5.60 | -1.78% | 309.00 | 742,273 | 16:35:14 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 308.40 | 309.40 | 315.00 | 308.00 | 315.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Asset - Backed Securities | 1.03B | 100.4M | - | - | 473.43M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:49:55 | O | 2,243 | 309.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 12/2/2025 | 09:17 | ALNC |  Close Brothers sets aside GBP165 million for motor finance scandal |
| 12/2/2025 | 07:00 | UK RNS | Close Brothers Group PLC Update in relation to motor commissions |
| 06/2/2025 | 17:45 | UK RNS | Close Brothers Group PLC Director/PDMR Shareholding |
| 03/2/2025 | 13:15 | UK RNS | Close Brothers Group PLC Total Voting Rights |
| 23/1/2025 | 18:00 | UK RNS | Close Brothers Group PLC Director Declaration |
| 21/1/2025 | 11:40 | ALNC | EXTRA: UK Treasury intervention is big reprieve for car finance firms |
| 21/1/2025 | 09:04 | ALNC | PRESS: Chancellor could act to protect car finance lenders - FT |
| 17/1/2025 | 14:30 | UK RNS | Close Brothers Group PLC Holding(s) in Company |
| 08/1/2025 | 10:30 | UK RNS | Close Brothers Group PLC Director/PDMR Shareholding |
| 07/1/2025 | 09:21 | ALNC | Close Brothers names Finance Director Mike Morgan as chief executive |
Close Brothers (CBG) Share Charts1 Year Close Brothers Chart |
|
1 Month Close Brothers Chart |
Intraday Close Brothers Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/2/2025 | 20:10 | CBG...A Banking Stock..........worth its weight in gold!!!!!!! | 2,193 |
| 03/9/2024 | 18:49 | Is Close Brother Up for a big rise | 18 |
| 15/3/2022 | 15:06 | Close Brothers | 151 |
| 11/4/2008 | 10:06 | A 'BLUE' BANK | 319 |
| 07/3/2008 | 09:41 | Winterflood Securities = Hidden Jewel | 224 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 19:02:51 | 308.40 | 13 | 40.09 | O |
| 16:50:11 | 309.00 | 2,243 | 6,930.87 | O |
| 16:35:14 | 309.00 | 220,266 | 680,621.94 | UT |
| 16:29:57 | 309.40 | 3 | 9.28 | AT |
| 16:29:11 | 308.40 | 345 | 1,063.98 | AT |
| Top Posts |
|---|
Posted at 19/2/2025 08:20 by Close Brothers Daily Update Close Brothers Group Plc is listed in the Asset - Backed Securities sector of the London Stock Exchange with ticker CBG. The last closing price for Close Brothers was 314.60p.Close Brothers currently has 150,487,543 shares in issue. The market capitalisation of Close Brothers is -. This morning CBG shares opened at 315p |
Posted at 12/2/2025 11:07 by smithie6 chris9119thanks for replying We agree to disagree. We both know that in reality if big shareholders in a company are not happy with the performance or the share price then they can tell the bod to look for a buyer of the company or to wind it up or to do buybacks to raise the shareprice ( has happened at TST, LFI, TRX & many many listed shares At LFI the shares were 45p. The company is closing up & paying out ~71p/share. At banks the controlling shareholders will allow the share price to sit below the TNAV if they are happy with the growth & annual gain they are making as shareholders. If they think the growth will only flatline in future years rest assured that if the TNAV of a bank is double the share price that they will tell the bod to sell the assets & pay out the cash, or to sell the company. Shareholders own companies, in the end the shareholders tell bods what to do. |
Posted at 12/2/2025 09:44 by smithie6 ..yes, the nett interest margin seems to be quite stable, at ~7%a very good % margin Just need to let the wheels turn....let the one off costs fade away....& the underlying profit will again pop out as PAT & good eps & divi. And if doesn't then the major shareholders will imo just call a vote to wind up the company & pay out the TNAV of ~£9-10/share. How would the company achieve that ? Just stop giving out new loans, collect the returning money as existing loans are paid back & sell any loan books for any long term loans. Then pay out the cash to shareholders. But only if the eps after this compensation topic is history (which it will be at some time) doesn't get the share price back, at least close to the TNAV. (or another is of course to use the excess of £5-6/share to do share buybacks one can imahine that if start use/spend £5-6/share to do buybacks ...on a share costing £3.6 ...the share price would rocket upwards....if just 10% were willing to sell, then you are trying to spend £5-6/share & only £0.36 is available to be bought !!) |
Posted at 12/2/2025 09:03 by smithie6 chris9119The massive discount to TNAV doesn't attract you to buy any shares ? With the sale of CBAM & the payment of ~£165m compensation (if that ends up being the final amount) the TNAV stays roughly unchanged.... at ~£9-10/share. versus a share price of ~£3.6. If the share price does not move up then the major shareholders will call a vote to wind up the co. & pay out the TNAV to shareholders. ~£9/share. ;-) |
Posted at 11/2/2025 08:14 by smithie6 TNAV is ~£12 imo (£1800 million !) if one includes the expected £200m for selling CB Asset Mngmt. (£1600m (= ~£1860m shareholder assets minus ~£260m intangibles) + ~£200m from sale of CBAM= ~£1800. While noting these numbers are top level rough numbers. So, imo £12 +/- £1.Numbers from the statement if group assets & liabilities & resulting shareholder assets (= NAV, not TNAV ) from ~page 200 from the last AR) (sadly the accounts suffer very badly from WOKE'ism, 200 pages of data/information/blu £3.6-3.7/share is just crazy cheap imo At 2/3 of the TNAV leaving 1/3 (~£500m of cash !!) to hopefully (more than) cover any one off costs such as legal costs & any compensation liability ...you get £8.04 share price ! (& then in 1-3 yrs time, with the current problems all being past history, the validation would hopefully be higher than that since based on earnings & not as a discounted price wrt the TNAV From early in April the problem of high costs because of false claims from Claims Management Companies will be solved, over, finished. Over time the other current problems (such as legal costs for Supreme Court case, the unknown of any compensation liability etc) will imo also be history. One can buy now in advance or wait 1 year until a lot of these problems are gone/known amounts but imo you would have to pay a much higher share price). |
Posted at 08/2/2025 21:58 by smithie6 hi si34cknotethanks for those comments ...I'm sinking a bit perhaps in an info overload with these 2 companies, what with various RNSs in recent weeks & also news from legal battles & press articles & the boss of the Fin. Ombudsman news &.....!! Would it fair to say that VANQ shares win vs CBG shares for % discount to TNAV while CNG wins for PAT per £ of share. Would it be fair to say VANQ has less risk/exposure than VANQ, per £ of share price, to the car finance compensation risk & the risk of unwanted/expensive court decision ? CBG has an advantage wrt Vanquis imo wrt having more different business ventures (although it says it has agreed to sell 1, CBAM). |
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 06/10/2024 12:06 by stoopid Karv, I'm with you, I reckon maybe 500m at worst, between 150m and 400m is market/broker consensus. At the end of the day, the FCA doesn't want to bankrupt anyone. Just get a free payout for idiots that took out car loans at exorbitant APRs. Even with 400m write off, CBG are worth double the current share price.If they do rebase the divi, even half of the most recent divi is 30p+ per share, so, not too shabby, a yield of about 7%/8%For me, this is still an 800+ share, though it may take 12/24 months to get back there depending on the FCA findings. And people are forgetting that I believe it was Royal London Asset management that bought approx 8 million shares or 5.3% of CBG on the 19/02/2024.So, i would have more trust in their team to have run the slide rule over this than residents of this board posting of catastrophic losses. Saying that, there is a chance it could be worse than expected for CBG, the findings could be terrible and catastrophic for the share price, requiring a deep rights issue to save them. As I said before, Pays your money, Takes your chances.... |
Posted at 03/10/2024 11:17 by popit The fall in share price here is beginning to look a bit absurd nowThe most likely estimates for the final FCA liability according to analysts and for the expected CBG share price : 0-£150 million FCA liability 40% probability Expected share price £8+ 150 - £300 million FCA liability 40% probability Expected share price £7+ 300 - £450 million FCA liability 15% probability Expected share price £6+ 450 - £600 million FCA liability 4% probability Expected share price £5+ over £600 million FCA liability 1% probability Expected share price £4+ So the current share price seems to be pricing in by far the most pessimistic outcome I think the final liability will be about £150 million and so I would expect a share price of over £8 after the FCA gives their decision |
Posted at 25/9/2024 19:47 by pj84 "Update: Close BrothersThe Financial Conduct Authority’s investigation into discretionary commission arrangements (DCA) in the car financing market continues to cast a huge cloud over the share price of merchant bank Close Brothers. Last week’s sale of the asset management business is not pleasing everyone thanks to the lower-than-expected price tag. It is going to be a long haul back for the share price and thus this column, especially as no dividends are currently forthcoming, but the balance sheet and valuation both argue against any decision to cut and run (as does the book loss that would accrue). The disposal boosts Close Brothers’ common equity tier 1 (CET) ratio while the £750m stock market value compares to tangible net assets of more than £1.5bn, so that 50pc-plus discount already prices in a very negative outcome from the regulatory investigation. Questor says: hold" I am hoping that Barclays application for judicial review is successful and mitigates the scope of the FCA's(delayed) investigation but if not I am hopeful as pointed out above that the share price more than discounts any settlement. |
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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