Share Name Share Symbol Market Type Share ISIN Share Description
Pcf Grp LSE:PCF London Ordinary Share GB0004189378 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.50p +1.37% 37.00p 92,154 15:52:12
Bid Price Offer Price High Price Low Price Open Price
36.00p 38.00p 37.00p 36.50p 36.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 11.1 3.6 1.5 24.7 78.52

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Pcf Grp (PCF) Discussions and Chat

Pcf Grp (PCF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-06-20 15:52:0037.0020,0007,400.00O
2018-06-20 13:26:4136.952,692994.69O
2018-06-20 13:02:0936.952,019746.02O
2018-06-20 12:45:4436.7513,6054,999.84O
2018-06-20 11:06:3036.603,1091,137.89O
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Pcf Grp (PCF) Top Chat Posts

DateSubject
20/6/2018
09:20
Pcf Grp Daily Update: Pcf Grp is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker PCF. The last closing price for Pcf Grp was 36.50p.
Pcf Grp has a 4 week average price of 36.50p and a 12 week average price of 31.80p.
The 1 year high share price is 44p while the 1 year low share price is currently 22.75p.
There are currently 212,219,778 shares in issue and the average daily traded volume is 121,589 shares. The market capitalisation of Pcf Grp is £78,521,317.86.
30/5/2018
10:38
cc2014: A couple of things. PCF market cap has now reached £89m. It is very difficult to get funds to invest in companies with a market cap of less than £100m as it's not worth their analysts time and energy. Also, liquidity can be an issue too. £100m is a psychological barrier I'd like to break through Secondly I'm really pleased with the ebb and flow of the share price movements. I like the way investors are now seeing a dip as an opportunity to buy in. I'm also happy to see the churn of investors too. Everyone selling here will be selling at a profit and well done to them. The liquidity is healthy.
11/5/2018
16:09
carcosa: Indeed 'wow'! Well, I had pencilled in a share price of 0.6x Portfolio Value which, assuming the Portfolio is now c200m means the share price should be 51p at the moment. However the way it is getting there seems to imply something else is going on behind the scenes; x3 times typical market volume today.
02/5/2018
10:36
cc2014: Chart showing resistance at 35p for those that love charts. I got lucky Geraldus. I have no idea why the share price dipped 10% below the rights issue price and the price all the directors were buying at, but that was enough incentive for me. There was reasonable volume too for a couple of days to get in. This has been the easiest and best trade I have seen since the market collapsed after the referendum. All the required research was set out in the research notes on the PCF website. Easy to say in hindsight I guess as I have plenty of other trades I consider to be good which aren't moving up like I think they should.
16/4/2018
21:31
topvest: I wouldn't worry about the share price short term. Lets see where it is in 3 years time. For what its worth I think the share price will always bit at a bit of a discount whilst Somers are the majority shareholder, but their holding is a comfort in other ways.
16/4/2018
13:51
cc2014: I think the share price is suffering from what I'd call "retail turnover". By this I mean alot of volume went through at 28 which there will be many PI's happy to flip for 4 pts. That's a 14% rise in a couple of months and not to be sniffed at. So, it's natural that some will want to leave the party. What we saw however was whoever was dumping shares at 27 in order to allow all those retail buyers in at 28 was holding the price back as soon as they were finished the share price moved up fast. We don't have the brake on the share price we did then. I'm assuming, well guessing really that the large quantity that went through at 27 were provided from someone who bought in the rights issue at 25. Whatever, they could only sell them once. Speaking for myself I have a high level of conviction with this share and don't need to do anything but just sit back for the next couple of years. The ambitious targets Scott defined about a year ago, we are now a year down the path and a year closer to full delivery. Indeed this morning's RNS demonstrates things are going better than plan. All good imho and in a funny sort of way I'd prefer it go up slowly and consistently. I kind of find it more fulfilling.
16/4/2018
07:41
graham1ty: Deposits up to £100m and they reiterate the £350m loan book target by 2020. That would double the loan book. Now, when will the share price catch up ?
02/3/2018
09:00
netcurtains: It is growing at a very fast rate. I think we might be getting the hockey stick graph on the share price soon - if we're lucky and this keeps up.
01/3/2018
14:52
graham1ty: I do hope that we get a strong update on deposits and an enlarged loan book. Mr Market got very excited about the banking licence and drove the share price up to 35p......but that was almost two years ago. Well, they now have the licence, on time, and on budget. Their cost of borrowing is falling, and their loan book is rising. Eps are due to double over the next two years, yet we sit below the mid 2016 share price. Wake up, Mr Market
08/2/2018
12:14
cc2014: Hurrah. So, a 750k sale just gone through at 26.0 which must be delayed by a couple of days. So, now we know why the share price hasn't been rising. Hoepfully that's the seller out the way
11/12/2017
10:10
cc2014: PCF has two areas of business split roughly 50/50: 1. Lending to consumers for cars 2. Lending to business for vehicles, plant and equipment It has historically funded the lending through the wholesale market and retained earnings but around March became a bank and since then is shifting from the wholesale market towards retail deposits on fixed rate bonds. This significantly reduces its costs long term (or improves NIM – net interest margin) but this has not yet showed up in the finance figures as it’s only been a few months and there have been set up costs to becoming a bank. It currently has a portfolio size of £146m, which grew by 20% last year and plans to increase this to £350m by 2020 and £750m by 2022. The banking license and being able to take retail deposits is the trigger for this. PCF currently has a market cap of £59.4m based on a share price of 28p per share, Net assets of £39.6m. If you run the P/E calculation based on underlying profits of £5m, corporation tax rate of 19% it gives a P/E of 14.7. The P/E calculation takes no account of assets though so it would seem better to look at this based on a multiple of future earnings. On this basis the market capitalisation exceeds the net assets by £59.4m-£39.6m= £19.8m which is only 4.9 years profits after tax. In summary my belief in this trade is based on: 1. The market cap is only 4.9 times current profits once existing assets are allowed for. 2. The 4.9 multiple is based on current profits. If the portfolio grows fivefold at an improved NIM then it’s clear the market cap will be higher than £59m. One could make an estimate of this. (Speculate a five bagger minimum?) 3. Although PCF have stated they have no plans to cross sell other products as a bank, they do have a banking licence. There is a thought in the back of my head that 5 years down the line, their ambitions will be different than they are today. The success of Shawbrook, Aldermore, OSB, PAG and the other challenger banks is bound to start to look attractive at some point in the future as the balance sheet strengthens. But maybe there’s a reason the share price is so low? I’ve checked the following: 1. Are the directors credible? Who knows but I’ve met Scott Maybury the Chief Executive present at an investors evening and he seemed sensible enough to me. All the directors and non-execs have been buying shares over the last year which is always a good sign 2. Is the business plan any good? Rather unusually for AIM it’s set out and available on line in this documentation pages 7-11: https://pcf.bank/media/1430/preliminary-results-presentation-december-2017.pdf 3. Maybe there will be a load of bad debts in the future? You can assess this yourself on page 12 in the above link. The bad debt write off charge has dropped from 5% in 2009 to 0.5% today and given high levels of employment I see no reason for this to worsen anytime soon. PCF only loan to prime credit customers and don’t do PCP and continue to pursue this policy and the percentage of business within the top 4 credit grades increased to 63% from 57% all year. 4.Maybe the government are going to investigate them for inappropriate lending? PCF are at the complete opposite end of the market to PFG only doing prime and no sub-prime but yet I suspect PFG is dragging down PCF share price by association. 5. Maybe the balance sheet hides a load of issues? Page 18 of the presentation is pretty clear. Of their £172m of assets, there is £2.7m of intangibles. I’m always suspicious of intangibles. In this case I suspect it’s the investment in the new banking software but whatever it is, it doesn’t really matter. Even if the £2.7m is actually worth nothing, it doesn’t affect anything as it’s negligible in size to the market capitalisation and future profits I can’t find any skeletons in the cupboard other than general Brexit scaremongering. I will be holding long term. The presentations set out the strategy and gives me a high level of conviction this will be a multi-bagger, even thought it's already multi-bagged if you bought back in 2011
Pcf Grp share price data is direct from the London Stock Exchange
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