Osb Share Discussion Threads

[davieboy78] 23/12/2021 14:34

I thought CF sold out a few years ago

[apple53] 23/12/2021 12:34

Can't believe so little interest here. Someone should correlate performance with ADVFN chat posts.

Still making steady progress.

I keep meaning to fathom the shareholder register (cf my October post above) but still not had time.

[apple53] 19/10/2021 22:56

Anybody know if JC Flowers still owns 25m shares?
Still listed as a holding on the website. No idea how committed. Just wondering if the new ATH will trigger more overhang reduction.
Northern Trust still showing up as large holders - is this as custodian?

Overall still incredibly cheap for a growing bank with less volatile earnings than larger and smaller peers. Still too small for most institutions, and hedge funds, to look at, but hopefully a virtuous circle of larger pool of buyers as the market cap increases.

I have posted on OSB on Seeking Alpha in a US banks article to see if anyone could get excited over the pond.

[deadly] 11/10/2021 16:30

All-thime high reached today.

[deadly] 20/8/2021 07:55

Same results RNS 2 days in a row - they must be pleased with them.

[texaspete2] 19/8/2021 09:18

If the ftse wasn't off today then i think we would be higher. I topped up at the open, fundamentals are good with fair value over £6. This share is a good inflation hedge too imo.

[deadly] 19/8/2021 08:15

Top results again. Shane there's so little interest here.

"Underlying profit before tax1 increased 62% to a record GBP252.8m (H1
2020: GBP156.3m) and statutory profit before tax more than doubled to
GBP221.9m (H1 2020: GBP99.3m) driven predominantly by a release of
impairment provisions and a lower cost of retail funds

[deadly] 08/4/2021 07:30

Very decent results today: Statutory profit before tax increased by 25%.

[iroll] 17/3/2021 21:06

Bombshell RNS late in the day.

[deadly] 15/2/2021 09:35

5% rise today, close to breaking out.

[riverman77] 13/11/2020 11:04

Also sold out as shot up very fast. Still cheap and great company, but see better relative value now in other financials, eg LGEN, AV, STB.

[jonnybig] 12/11/2020 08:34

Still a lot more upside here. Lucky to get in post covid crash so nearly doubled my money but still holding.

[irishmatt] 11/11/2020 15:32

Looks overshooting to me, I've sold out now. Would love to get back in again on a pull back though

[energeticbacker] 25/9/2020 14:31

FTSE 100 banks have proved a woeful investment since 2008. Should income investors focus on FTSE 250 lenders instead?

Investor's Champion has selected two mid-cap players for our latest research including OSB, each of which has a specialist focus. Both of these lenders have delivered consistently higher returns on equity than the big FTSE 100 banks in recent years. So far at least, that appears likely to remain true in 2020.

[deadly] 27/8/2020 08:24

well market likes it very much, up 17%. I've thought these were too cheap for a long time.

[irishmatt] 27/8/2020 06:32

It's very quiet in here. Results looked decent in my view so will see how the market reacts this morning

[petewy] 06/5/2020 11:17

Big move up. Trend?

[irishmatt] 06/5/2020 08:07

Agree, looked good to me too

[salamander69] 06/5/2020 07:56

Looks a good trading update to me (Given the circumstances) - surprised its not picked up more attention

[future financier] 28/4/2020 08:51

First of all - if the payments holiday is agreed with the lender in advance then this does not represent "arrears" - so will not automatically trigger a requirement to set aside loss reserves.

Secondly assume the borrower takes a 3 month holiday then this will add around 1% to the amount he owes and this in turn will create a 1% rise in the amount he has to pay thereafter - this should not of itself be a major problem for most BTL borrowers.

If the borrower is unable to make payments then bank re-possesses property (in last resort) and has the cushion on having loaned only c. 75% of value. So long as property values do not crash too heavily this should enable bank to recover its loan.

You have only to look at the results of PAG in the financial crisis to see that a well run BTL lender need not lose money even in a severe down-turn.

[cc2014] 28/4/2020 08:36

I wish I could answer your question more clearly but this is what I think happens (regardless of whether it's a residential mortgage or BTL mortgage)

Banks will have to assess the level of impairment they need to make for mortgages in arrears. The level of impairments I'm sure would be based on some formulae agreed with the auditors which they have been using for years. The formulae must be largely based on the percentage of mortgages in arrears, the size of the mortgages and the number of days in arrears.

The loss has to be brought into the accounts at the soonest opportunity.


So, yes there's going to be a huge gap in all banks profits. The market appears to me to have very different views about how large this gap will be.


I am quite bearish on this and sold all my banks at pretty depressing prices (but not as low as they are now).

[onjohn] 28/4/2020 08:32

Good point.
But cash flows will be carp presumably and most of the BTL owners that OSB has on its books are highly leveraged. So even small drop in equity values will wipe them up

[future financier] 28/4/2020 08:29

So long as they believe that the borrowers will re-start payments (at a higher level in order to cover the shortfall created by the payment holiday) then there is no loss to the company. Losses will arise only if borrowers default.