Osb Share Discussion Threads

[william127] 27/5/2022 15:52

To make a liar out of meDIRECTOR/PDMR has bought shares to the value of wait for it £1,778.46 ?

[william127] 27/5/2022 08:57

OSB offers best of both worlds for jittery investors.Investors Chronicle article today. Agree with most but no idea how they have "Negligible dividend yield" I have it at 5% not 1%.My only negatives are the Directors sales and lack of chat on this board. But very efficient banking model and just well run.

[petewy] 11/5/2022 09:25

Massive hits here

[apple53] 23/3/2022 21:35

Marketscreener forecasts for 2022 duly upgraded 20%!! (68.2 to 81.2, so 19%). 2023 upgraded less. A bit more nervous about STB given the 12-13% jump in a week, though still think it's worth £20. Expenses may continue to disappoint the market, offsetting small revenue upgrades from new lending. Headline eps not that relevant as mostly about impairment charge/write-backs. Like OSB could take a while (if ever!) for the market to realise it's a growth stock. Less resilient than OSB, however, due to Cost income ratio (conversely more operating leverage to revenue growth).

[riverman77] 17/3/2022 11:42

As I expected, very solid results (although as you say market seems surprised). I hold this and Secure Trust - specialist lenders with high margins, good growth prospects and very cheap.

[apple53] 17/3/2022 11:38

About the results themselves, the only cause for surprise is that the market seemed surprised (no I'm not sure how much of the jump this morning relates to the buyback).
Undercovered company in a poorly understood sector creates double opportunities.
I did force myself to sell some low beta stocks to buy big banks on the day of the big fall (monday 7th), and as they bounced I was shifting them into OSB. Though I stupidly switched some into Secure Trust two days ago, as I wasn't really aware of OSB's results date. I will admit to taking some profit today, but I really had an over-sized position.
If the LSE website records all the volume, the buyback is 2 months volume. So thinking about it I really shouldn't have sold anything at all.

Underlying eps running in the high 70s (I am taking their 86p underlying and assuming 20bp bad debt charge).
So Marketscreener-recorded forecasts need a 20% upgrade for 2022 and somewhat less for 2023.
This is a growth company, so on even a modest growth multiple it's worth a tenner.


Next one to surprise us is Secure Trust.

[petewy] 17/3/2022 09:27

Well buyback makesa difference

[apple53] 06/3/2022 20:43

Drop even more overdone now. Demonstrates the indiscriminate selling of financials. I wish I had cash. I had sold a little mid £5s and bought back around 5 so remain fully invested.

[gp1948] 01/3/2022 16:24

Picked up a few OSB this afternoon. Drop overdone today?

[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 23:56

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 17:30

All-thime high reached today.

[deadly] 20/8/2021 08:55

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

[texaspete2] 19/8/2021 10:18

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 09:15

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 08:30

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