Paragon Banking Share Discussion Threads

[funkmasterp12] 03/6/2013 10:33

Blue again this morning in a (very) red market.

[scrabble1975] 31/5/2013 18:44

Been out of the country all bar one hour today. Last I looked at 1330ish, we were up on buy volume, then I'm back and way more sells! Seems to have held despite that volume of sells, and volume twice what it was yesterday overall, but still feeling bemused!

[funkmasterp12] 31/5/2013 08:02

Don't think it would be that severe Drewster, there's a couple of support points on the way down. But more fundamentally if the share price of a company that's just reported 10% PBT increases and 20% forecast EPS growth drops that low, people should be diving in!

I'm with you though - higher before lower! Every possible indicator says this should be the case.

[the drewster] 31/5/2013 07:11

below 300 and there could easily be a test of 250.
300 is holding for now, so I suspect higher before lower!

[scrabble1975] 30/5/2013 23:22

I'm hopeful that it won't dip below 300p again. Any thoughts on that? Was stopped out, but bought back in again between 300-310p on v small spread bets. Tight stops set fairly close to 290p. The fundamentals and recent support lines would suggest that sub 300p isn't likely. I hope so anyway!

[funkmasterp12] 30/5/2013 22:03

It will. The fundamentals here are strong and though there has been a pull back, sentiment is good here. The fact that this stayed mostly blue today in a red market is also very encouraging. The recent downtrend is reversing and we will be seeing positive moves here soon.

[scrabble1975] 30/5/2013 20:35

Lots of positive talk, but not shifting. I'm very new to trading, but this one is baffling me...

[angels share] 30/5/2013 16:02

Optimism after growth in BTL market: Paragon

Demand for properties and loans from buy-to-let investors and an increase in the number of people seeking to rent has helped to push the market upwards, John Heron has said.

The director of mortgages for Paragon said the firm was "continuing to see growth in the buy-to-let market" and claimed that "levels of optimism stay high".

His comments came as the Paragon Group, Paragon Mortgage's parent company, reported a 10 per cent increase in profits and a 15 per cent increase in buy-to-let lending in the six months to 31 March this year.

During the six-month period the group had announced an extension and increase in warehouse funding and its second securitisation since the financial crisis.

Mr Heron added: "The increased funding capacity has allowed us to compete much more effectively in our core market and lay the foundations for further and sustainable growth in the coming months.

"The pipeline of new business is very healthy at £241.2m. This has more than doubled in the three months to the end of March."

In the statement, chief executive Nigel Terrington said that recent changes to the FCA's rules on capital requirements for banking start-ups had encouraged Paragon to apply for a banking licence. Paragon is expected to launch a bank in 2014.

Adviser view

Andrew Montlake, director of London-based mortgage broker Coreco, said: "Paragon is an interesting one as it is a good company and perhaps brokers should be using them more than they do."

http://www.ftadviser.com/2013/05/29/mortgages/mortgage-data/optimism-after-growth-in-btl-market-paragon-wTlAwAQHuXLf6XPfeJCEEO/article.html

[mechanical trader] 29/5/2013 15:46

Stock looks far too cheap compared
to Broker share price TARGETS.........

Date Company Name Broker Rec. Price Old target price New target price Notes

22 May 13 Paragon Group of... JP Morgan Cazenove Overweight 304.95 300.00 361.00 Retains
21 May 13 Paragon Group of... RBC Capital Markets Sector Performer 304.95 370.00 - Reiterates
21 May 13 Paragon Group of... Shore Capital Hold 304.95 - - Retains
21 May 13 Paragon Group of... Canaccord Genuity Buy 304.95 350.00 390.00 Retains
21 May 13 Paragon Group of... Espirito Santo Execution Noble Buy 304.95 - 344.00 Retains


N@P Building Society

[mechanical trader] 29/5/2013 14:59

As per above post......

[mechanical trader] 29/5/2013 14:49

PAG..... just gone long. Bullish engulfing candle on a line of support. Oscillators looking set to turn bullish aswel.

[scrabble1975] 29/5/2013 10:36

Agreed. I'm back in at 300p and it's just cracked 306p after a few goes at it. Once through 315p I think we should see a rapid rise back to the pre-update value...IMO.

[funkmasterp12] 29/5/2013 10:33

Think we're turning the corner now - the fact this is up in a red market is a good sign of a recovery. 315p is the next test, if we can bounce through that it's game on. Have taken a long position here - GLA. (All IMO).

[scrabble1975] 29/5/2013 09:03

Computers buying this am?

[funkmasterp12] 28/5/2013 10:43

It'll take a few days I think but we should see the start of a new uptrend now. Resistance is 315 ish so might take a few goes to crack that, but once we're through it's party time again.

[scrabble1975] 28/5/2013 10:31

Lots of buys, reversing the trend from last week, but still not moving a great deal. 15 points down a day last week on lots of selling, but not moving the same way on lots of buying....Hmmm.

[funkmasterp12] 27/5/2013 23:35

Indeed! I'm not one for technical analysis normally but the current share price is breaking the lower Bollinger band and a slow stochastic chart shows the stock is touching on over-sold. Everything points here to a trend reversal. I think it's a definite 'long' candidate for June's UKstockchallenge.All IMO/dyor etc.

[senden11] 27/5/2013 20:50

And all the so-called journalistic economists, not to mention some highly placed
actual economists, said get out of RBS&Barclays a month or so ago when they were languishing in the 260s/270s area and look how they\'ve recovered. The fundamentals are good for buy-to-let at the moment and Paragon should thrive,
particularly based on its recent figures. Have topped up and will top up again at these prices!

[funkmasterp12] 26/5/2013 00:59

Numis, one of the brokers covering PAG. Their note reiterated their Sell recommendation and a target share price of 168p. I didn't see the note in full but the Standard re-printed some of it and it wasn't particularly favourable.

Though according to one flash I saw on Friday they had upgraded this to Hold. Can't find anything to verify this though.

[scrabble1975] 25/5/2013 13:44

Who's note???

[funkmasterp12] 25/5/2013 10:48

Such a weird reaction. I personally sold here back in Feb to free up some funds but I'm seriously considering getting back in at these levels. Numis's note was pretty damning but other than that the fundamentals here remain incredibly strong.If this holds over 300p that's a good sign I think.All IMO.

[scrabble1975] 24/5/2013 14:44

"So" should read "Do"

[scrabble1975] 24/5/2013 14:44

CR, so you think shortens are trading this and that could be having an impact? Every time the price rises a small bit at the moment, positions are closing/selling...I don't know what im talking about by the way!

[cockneyrebel] 24/5/2013 11:17

Market pull back has caused a lot of stocks to take a bit of a louting imo.

CR

[scrabble1975] 24/5/2013 10:39

This stock is a very strange one...Director buying yesterday-not a large amount, but buying all the same.