Provident Financial Share Discussion Threads

[elssworth] 24/12/2008 14:57

..just don't get caught with your pants down...once they know, they will know you know, cos i already know!
............destined to hit Level 4 price target of £4.27

Hope this helps
Thanks

[wad collector] 24/12/2008 13:54

Yeah it's plunging.up.

[wad collector] 25/11/2008 11:31

950p by xmas? I like the look of the share price chart , hope the shorters are burning .

[wad collector] 20/10/2008 12:37

Just the global share crash I think.And the rumour that Prov lends money.And the Funds trying to short it.

[wilsonn] 17/10/2008 12:15

This is up and down like the knickers on Thornton Road. What basis is there for a squeeze on PFG?

[wad collector] 09/10/2008 10:27

Shed load of short position declarations by various institutions yesterday.Up today and looking steady (certainly by the current markets standards). I hope they all get their fingers badly burned.

[wad collector] 25/8/2008 23:18

The Times ran quite a big article last week about Provident ; clarification ,nothing New really, but made encouraging noises about the market position.
Sorry no link , I was on holiday and read a paper copy (Didn't know newspapers still existed , but I think this was a fake - it was only half size)

[evox] 06/8/2008 12:36

Good advice too!
These have a lot further to go but perhaps not for a while.
Good luck anyway.

[evox] 05/8/2008 20:42

wad, looks like you had a good day today with this and lloy. well done!
Jumped out of PFG at 930 and was tempted to switch to lloy for the xd tomorrow but left it too late. will hold cash instead for an opportunity.

[wad collector] 05/8/2008 11:04

Looking at the header chart , it is a bit misleading , ADVFN don't seem to manage splits very well on their charts.Old Prov shares were never £12 last year, even rebased.

[wad collector] 31/7/2008 15:15

Now let me think....
Actually, like many I hold both , but one I regret buying.

[evox] 30/7/2008 20:48

Hmm...
which would I rather hold?
Lloyds TSB which fell 15 to 306 after reporting a 70 percent drop in its first-half pretax profit,after a 585 million pounds writedown chargefollowing market turbulence. Goldman Sachs repeated its 'sell' recommendation, noting the bank is not immune to the slowdown, and that dividend cover remains low.
The broker cut its EPS for 2008-2010 by between 2 percent and 5 percent to reflect a slightly weaker operating performance in insurance and investments and higher provisions.

or...

Provident Financial which climbed 74-1/2 pence to 894-1/2 after the British consumer lender posted a 34 percent rise in first-half profit, with customer numbers growing 7 percent at its core consumer credit division in the period. WH Ireland upgraded the stock to 'outperform' from 'market perform'.

[wad collector] 30/7/2008 09:27

Results are a pleasing contrast to banks ! Not just profit increase but a confident statement of expectations for the 2nd half.I think we will see £10 before too long.


One bit I like from the results:

interim dividend is maintained at 25.4p per share (2007: 25.4p) reflecting the
company's policy set out at the time of the demerger
to at least maintain a full year payment of 63.5p per share whilst moving to a target payout
ratio of 80% of post-tax profit in the medium


That means a yield of 7.5% at todays price.I see that Lloyds have announced they are holding their interim dividend at around 11p which gives about 10.5% yield but the crucial difference to me is the lack of confidence in their statement about holding the full year and interim dividends.

[wad collector] 24/7/2008 11:11

Further rise this am ; are next weeks results better than expected?

[wad collector] 23/7/2008 11:12

You can't compare the yields on a selection of banks (which will doubtless be slashed after the years chaos) with Providents situation.
Have a look at IPFs results today, (the old half of prov.) , a contrast to lending banks.

[evox] 17/7/2008 20:32

Yes, but.....
UK doorstep lender Provident Financial Plc. said it expects "high-quality profits growth" in 2008 following a strong start to the year, continuing favourable market conditions and its strong funding position.
Provident, which lends small cash sums at higher than average rates of
interest to people with patchy credit records, said it has around 80 million
pounds of excess capital and over 400 million pounds of undrawn borrowing
facilities.
The company said conditions in the UK non-standard lending market continue
to be favourable as mainstream lenders tighten their credit granting criteria,
resulting in an increased flow of applications to Provident Financial.
It said its consumer credit division saw customer numbers rise 6.3 percent
over the 12 months to the end of March, with loan impairment levels stable since
the year-end.
Provident Financial will announce its interim results on July 30.

[wad collector] 17/6/2008 14:12

Looking a bit firmer today as we hit £8.

[wad collector] 14/5/2008 19:04

Provident has been around a long time , 128 years to be exact,through many recessions.It seems to weather them all,indeed thrive.If the latest statement is honest , they don't sound worried.

[ritz6] 14/5/2008 16:22

IMHO - Provident, which lends small cash sums at higher than average rates of
interest to people with patchy credit records. Might be a worry in current market conditions.
Down turn in last few days is more or less due to the Ex-Div. Hope if financial bounch back tomo PFG will be back on a positive run again and don't forget it trading almost above the start of the year discounting todays divident effect.

[wad collector] 14/5/2008 11:32

Another positive statement last week seems to have been greeted with disinterest by the market.Am I missing something?
Possibly , but I am not missing an opportunity for adding.I'm a long term holder and happy to stay that way.

(Adds further details)
LONDON (Thomson Financial) - UK doorstep lender Provident Financial Plc.
said it expects "high-quality profits growth" in 2008 following a strong start
to the year, continuing favourable market conditions and its strong funding
position.
Provident, which lends small cash sums at higher than average rates of
interest to people with patchy credit records, said it has around 80 million
pounds of excess capital and over 400 million pounds of undrawn borrowing
facilities.
The company said conditions in the UK non-standard lending market continue
to be favourable as mainstream lenders tighten their credit granting criteria,
resulting in an increased flow of applications to Provident Financial.
It said its consumer credit division saw customer numbers rise 6.3 percent
over the 12 months to the end of March, with loan impairment levels stable since
the year-end.
Provident Financial will announce its interim results on July 30.
[e-mail]



Look at the 5 yr chart - a buying opportunity?

[wad collector] 04/3/2008 12:54

Todays results look strong and a positive statement.Takes the yield up to 7.3% - seems to me to be significantly undervalued considering its market position.
They have been around a very long time through recessions and booms.