Share Name Share Symbol Market Type Share ISIN Share Description
Paragon Banking Group Plc LSE:PAG London Ordinary Share GB00B2NGPM57 ORD 100P
  Price Change % Change Share Price Shares Traded Last Trade
  5.80 1.89% 312.00 366,171 16:35:00
Bid Price Offer Price High Price Low Price Open Price
319.20 320.00 320.00 303.60 309.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 159.00 49.40 6.3 811
Last Trade Time Trade Type Trade Size Trade Price Currency
18:06:22 O 121 312.00 GBX

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Date Time Title Posts
21/9/202013:11Paragon - time to get in!2,743
08/11/200718:59Profits up - shares down - what am I missing?247
30/10/200722:48The first listed lender to go bust181
11/10/200709:52Paragon: will rise continue/hold?11

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Paragon Banking Daily Update: Paragon Banking Group Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker PAG. The last closing price for Paragon Banking was 306.20p.
Paragon Banking Group Plc has a 4 week average price of 303.60p and a 12 week average price of 303.60p.
The 1 year high share price is 555.50p while the 1 year low share price is currently 217p.
There are currently 259,970,708 shares in issue and the average daily traded volume is 557,992 shares. The market capitalisation of Paragon Banking Group Plc is £811,108,608.96.
davr0s: Downgrade by some broker. I tend to ignore them so don't see it as a major negative as they have poor track record of predicting future share price
aclark9201: Have I missed something? What's going on with the share price?
soundsplausible: The market determines the share price not a buy back. If buy backs put a floor under the share price, then put every penny you can get your hands on and put it into any company that does buy backs. You will in one single move be on a one way trip to richness. Sadly it doesn't work like that. SSE is currently doing a £0.5B buy back which started when the share price was ~£15, we are now below £14 and it looks like the only way is down. Buy backs lack imagination. Companies should be putting every spare penny to work, either plough it into the business to give a ROI or buy some other company to help push the profits up. Failing that give it to the shareholders who'll find a better use for it elsewhere.
shaker44: I don't agree. It puts a floor under the share price and all buys help it move up. Far sooner see that than companies making acquisitions unwisely. Many investment trusts buy back at a discount to reduce that discount.
soundsplausible: In general I hate companies that buy back shares. This (as stated in previous posts) is all for the benefit of the board, who do not get bonuses based on the share price performance. It does effect the EPS which can be their rule of measure how well the company is doing, linked to bonus. Give the money back to the shareholders who can do something tangible with the money. (In my experience) enhancing EPS by buying back shares rarely does anything for shareholders who are in it for capital gains.
davebowler: Numis; Paragon (Buy, TP: 357p) Numbers a little light of our top of the range forecasts Paragon reported a first half profit of £71.9m an increase of 12.5% on the same period last year. Credit quality remained exceptional (impairment was flat on last year) and as expected there was very strong new BTL lending which increased 85% to £824m. EPS increased 17.2% to 19.1p with fewer shares in issue following the buy back. Idem continues to struggle in the increasingly competitive commodity end of the debt purchase market. We are however pleased to see the group exercise discipline and not chase volumes at any price (which is exactly what Paragon did in the BTL space ahead of the credit crisis) with the ERC declining to £510m from £639m. Overall the numbers were a little below our top of the range forecasts and we expect to downgrade modestly. Paragon remains cheap being valued at 7.4x earnings. Regulation: Paragon holds almost all of its mortgage assets outside of its bank. The current capital requirements for standardised BTL are (we estimate 3-4x) greater than for those with similar assets that use the IRB approach and we believe there will be no material change to the current capital requirements for BTL. With the trading statement Paragon allude to (they expect this to take two years) moving the IRB capital approach would reduce their capital requirements. We see the prospect of increased pressure on BTL landlords which is reflected in our estimate that Paragon Mortgages will see its profit decline 3% in 2017, 9% in 2018 and 12% in 2019. Regulation does negatively impact lenders but it very rarely dismantles substantial product lines that have been in existence for generations. It doesn't feel like recession is imminent: Book margins remain close to bottom of the cycle levels as opposed to being the usual wafer thin as they are at the top of the cycle. Credit remains relatively tight with banks still undertaking real affordability tests and there are no self-certified 125% LTV, £1m mortgages for bus drivers. Household debt is also still well down on the previous cyclical peak although household debt has started to rise rapidly and bank sector leverage is dramatically lower than pre-crisis. A slowdown is possible but the Paragon share price is pricing in a lot worse.
aishah: UK challenger banks: OneSavings Bank, Aldermore, Shawbrook among the lenders seeing a bounce-back Challenger banks are bouncing back after months of share price weakness, with the markets rewarding smaller listed lenders for posting double-digit increases in profits, lending and customer numbers. hTtp://
eurofox: good to see one of the weaknesses in PAG share price down to Deutsche Bank's own problems (it needing to raise capital) - if so, this selling pressure may go away since the ECB are now able to buy Deutsche Bank's own bonds and thus reduce the pressure on it's reserves
aishah: This is what TMI said in last issue: Paragon (364p) Specialist BTL lender Paragon has also suffered share price turbulence but results were strong. In Paragon Mortgages, operating profit rose 17% to £94m while Idem Capital, which provides unsecured loans, increased profit 3% to £49.3m. If anything this performance masks even stronger trends with new BTL lending up 102% to £1,326m and the BTL pipeline up 72% to £713m. One other positive for future growth is that its funding “warehouseR21; capacity has been increased from £750m to £950m, while recently established Paragon Bank has attracted deposits of £708m (up from just £388m in Q3 ’15), a cheap way of funding further lending. Broker, Jefferies notes that while the BTL lending market is expected to fall from an annualized £37bn to £30bn (out of £209bn total UK lending) c. 52% of BTL gross mortgages is remortgage activity and therefore not affected by the stamp duty changes. Jefferies forecasts Paragon new BTL lending of £1.4bn in FY’16, rising to £1.6bn by FY’18 but even that would imply market share of only 5.8% compared with pre-crisis level of 9%, so we think there’s still upside to come. New forecasts are for eps to rise from 34.9p to 40p, 44.6p and 49.1p between FY’16-FY’;18. Jefferies’ price target is 536p while it notes a further £50m share buyback is targeted for the next 12 months. Buy.
Paragon Banking share price data is direct from the London Stock Exchange
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