Osb Share Discussion Threads

[1318myl] 09/6/2023 11:08

Many thanks for the info

[rcturner2] 09/6/2023 07:31

On the 3rd of May they said:

Trading update

OSB GROUP PLC (OSBG or the Group), the specialist lending and retail savings group, today issues its trading update for the period from 1 January 2023 to date.

Highlights

-- Strong financial and operational performance continued throughout the
first quarter

-- Organic originations of GBP1.2bn in the first three months of 2023 (Q1
2022: GBP1.1bn)

-- Underlying1 and statutory net loans and advances increased by 3% in the
first quarter to GBP24.2bn (31 December 2022: GBP23.5bn and GBP23.6bn,
respectively)

-- The Group's three months plus arrears balances remained stable at 1.1% as
at 31 March 2023 (31 December 2022: 1.1%)
-- The Group has repurchased GBP20.1m worth of shares at the end of April
under the GBP150m share repurchase programme

[1318myl] 08/6/2023 13:27

Hi all, does anyone know when OSB will announce the next update? Hopefully it will be good or as good as the Paragon update.

[thebutler] 06/6/2023 09:35

Good update by peer Paragon, filtering through to here.

[rcturner2] 06/6/2023 09:04

Still going well.

Rated a "super stock" on Stockopedia, stock rank of 91.

[thamestrader] 17/5/2023 10:25

Nice divi, thanks OSB

[apple53] 17/5/2023 09:46

PEG ratios don't normally work for banks. The big swing factor is normally provisioning, which is normally low ex-post, while any analyst worth his/her salt will have provisions (at least) 'normalising' (ie to cross-cycle levels) over the next year or two, which will inherently depress the eps growth rate. However, as long as analysts do this then the forward PE (let's say 2024-5) should be a good indication of underlying value. And with OSB's super low cost income ratio one can even put provision charges on 50% above cross-cycle to allow for some housing market challenges, and it will still be ridiculously cheap.

For me the challenge is allocating cash across the bank sector as they are all so cheap. I think STB is cheapest below £7 so my largest holding, but a decent bounce and I would shift a chunk to OSB (while keeping an eye on Virgin and even Barclays).

I'd say OSB is the most bullet proof listed financial in the UK in terms of earnings (not share price, since market doesn't get this). Check out where financials' shares are vs Covid low. All bounced like crazy but on a quick check I think OSB has done best (in holding on to its rebound).

[brucie5] 15/5/2023 09:40

RC, Thanks.

[rcturner2] 14/5/2023 08:36

Brucie, I always calculate the yield myself as the way stocko presents the numbers means they tend to headline with future figures.

OSB's last full year dividend was 30.5p which is a yield of 6.14%.

[brucie5] 13/5/2023 12:36

I would certainly see this at 5.50 on the chart, though there's a declining range of peaks. Obviously doesn't affect the value case.

From Stocko- so can be misleading especially on the yield!

PE Ratio (f)
4.9
PEG Ratio (f)
0.9
EPS Growth (f)
6.0%
Dividend Yield (f)
8.34%

[thebutler] 03/5/2023 07:36

Great update imo, and a steal at 500p whilst the Market continues to shun the banks.

[rcturner2] 03/5/2023 07:05

Decent trading update from OSB today for Q1. Raised full year guidance.

[apple53] 23/3/2023 11:31

Not sure it's any cheaper than yesterday, but thanks for pointing out it's ex-d!!

[petewy] 23/3/2023 10:27

Good point

[jonnybig] 23/3/2023 09:01

Time for osb to hoover up all the cheap ex div stock.

[apple53] 17/3/2023 01:24

Has been a growth stock for ages, but never got a growth multiple (ie 15x!). Maybe it's not a growth stock any more - loan growth guidance suggests zero real growth. Meanwhile, 2022 hiring will hit fully in 2023 and put CIR at 29% (expected), higher than I can remember, but still ridiculously low meaning earnings are extremely resilient against (credit) shocks.
Even if not a growth stock it is surely worth a US regional bank multiple (10-12x I guess but maybe a bit lower now).
Really pleased to see them beginning to build up provisions despite not actually needing them (yet) as it was always a criticism that earnings were overstated due to low/zero/negative credit charge.

The buybacks are sustainable for years, especially with lower loan growth.

I can't remember if they did them too quickly last time. I should check.

I switched some STB in to an already large position at £5 (when STB £8), but not enough. Also switched some STB to IQE, more fool me.
I have learnt to 'trade' OSB, but want to be disciplined and wait for £6 before seeing if there is anything more attractive.

[jonnybig] 16/3/2023 09:57

Top on ftse riser list. Great stuff but still ridiculously cheap with a p/e well under 10 despite strong continued growth.

[curriedquaker] 16/3/2023 08:46

Special dividend of 11.7p on top of the 21.8 p makes an attractive 33.5p to be paid in May on top of the £150m share repurchase.

[onjohn] 16/3/2023 08:00

bad debt roofing it

nderlying loan loss ratio of 14bps and statutory loan loss ratios of
13bps (2021: -2bps) reflected the worsening economic outlook, including
the potential impact of higher cost of living and borrowing on
affordability.

[t-trader] 16/3/2023 07:58

Yes great results and your probably right jonnybig…̷0;may top up if it does go down

[jonnybig] 16/3/2023 07:56

Excellent results. Probably will still fall though in this insane market.

[petewy] 27/1/2023 19:56

Yes banks were featured in the IC Lloyds etc but no mention of OSB and ARBB

[riverman77] 27/1/2023 17:37

OSB is one I hold in the background but don't tend to pay too much attention to it - pleasantly surprised to see how much it has shot up recently, but still seems to be on a cheap valuation (around 6x forecast earnings according to Stockopedia, and just above book value).

[apple53] 27/1/2023 11:13

thanks for highlighting that. I was wondering why the move, despite recent grinding upwards. Metro has been moving also, and Virgin had got ahead a bit.
STB not moving....