Provident Financial Share Discussion Threads

[sippguru] 25/10/2017 11:22

russell are you sure about that? It had to use its bank facility to repay bond holders only a few weeks ago. I'm sure there's a requirement to maintain a certain level of cash reserve, i don't think they can use that to pay fines. Should also remember there's another bond repayment due in the not too distant future as well, i can't work out where the cash is coming from for that either if they're unable to issue another bond in the interim.

[russell250] 25/10/2017 07:30

Results for Lloyds out this morning

whats very interesting - mbna - growth

as per vanquish good growth uk - over indebted -
pfg can pay any fine predicted out of cash reserves - so entire value of pfg less than true value of Vanquis alone

[hopefulalways] 24/10/2017 19:14

.... and yesterday they increased there stake ?????? I'm confused

[umitw] 24/10/2017 17:25

Deutche bank reduces stake to 6.75%

[nw99] 24/10/2017 08:21

*BERENBERG RAISES PROVIDENT FINANCIAL PRICE TARGET TO 950 (610) PENCE - 'HOLD'

[samdb] 23/10/2017 11:05

I've been doing the same as Deutsche. Smaller positions though!

[russell250] 23/10/2017 10:42

Deutsche continue to add -

rns today up to 8.05% of total stock from 6.40%

rns added from 5.05% to 6.4% only week ago

rns added from 2.52% to 5.05% beginning of month.

[glenkaz] 23/10/2017 07:13

🔥💀 aghhhhhhhhhhhhh

[glenkaz] 21/10/2017 10:10

Helooooooooo! Had limited time yesterday as out with her! Had a great entry on irv again 55p now 74 in 2days! Lucky share for me! Bought in last drop 55p sold at 117p now has to break 10 here and beyond! Next update could be mega! 🔥💀 shorts will die!! Ha haaaa! Gla have a great weekend 🤡👍

[cellular3] 20/10/2017 21:58

Not sure but their glasses are empty now

[umitw] 20/10/2017 18:02

I like it, where is all the negative people gone? Lol

[tradejunkie2] 20/10/2017 14:29

How we all doing my little kitti cats? :)

[cellular3] 19/10/2017 20:53

Gees, what's with the mood killers posting here, terminator, silver surfer and aimless investor1, the world is dismal enough as it is lol 😰

[tradejunkie2] 19/10/2017 20:23

I'm out at 1400p. Time to take a dump.

[fenners66] 19/10/2017 18:47

Oh and on the subject of non-holders - they are the thing you most Need.

Who you going to sell those shares to to realise a profit?

So you absolutely need non holders reading this board for the minor effect you may get on the share price but especially their buying power.

[fenners66] 19/10/2017 18:44

I don't think there is any chance of PFG going bust. They have retail deposits to fall back on for funding.

However the outcome of the potential mis-selling if its bad may not be priced in some pundits tout up to £300m repayment possible; truth is we do not know.


Thereafter how long before this is paying a dividend again ?
How long before that gets back to the 7.5% it once was?

I suspect years

[russell250] 19/10/2017 17:37

I agree with last two posts - I think huge drop was equivalent to kitchen sinking - market is very hard on this type of revelation at present --- the door step lending mismanagement has initial signs of slow recovery but 65% remains very weak - 80% plus will be back in business - on a smaller loan book with less impairments - but could take 9 months from now ( over 12 months from self harm)
they still have a huge amount more clients than no 2 door step lender morses club -

The credit card business could be difference between a recovery to £11 ( most target prices by brokers at this level since last Friday see hl.co.uk quick reference ) the card business was still growing on Friday`s update- unlike ppi the customers impacted with this enquiry will be nothing like the penetration rates with PPI
The combination of suspending the dividend plus adding available cash should be lower than the fine from Vanquais worst scenario - the Credit card eventually should be worth at least the current valuation of company.

My personal hope is £11-12 by April -- decent recovery from present - if credit card sorted hang in for further increase August/September hopefully £16+

I will hold until at least April - longer if recovery on track with card

The appointment of an experienced big hitting ceo will make a huge difference on perception - I don't care if he gets paid more than Crook just recover the share price -- I am not thinking anything like price at beginning of year.- £12 would be excellent - if I hold till April and still under £10 then will reduce or bail out

[greyingsurfer] 19/10/2017 17:26

Can I suggest you don't post on this board, you're ruining my feng-sui and chi today 😪

I've never understood people who object to people posting negative views on boards, or posting when they don't own. Why would anyone want a "discussion" board which is just for cheerleading - how would that help anyone make good investment decisions. sippguru may be annoying (his name probably says all you need to know - imagine calling yourself a guru!), and he may even be doing so deliberately - but if the cost of not being irritated by some posters is to eliminate any alternative views then I'll have sippguru any day.

Peter

[greyingsurfer] 19/10/2017 17:18

The loan book has shrunk by 33% or ~£150 million in the past 3 months alone - that's not collections that is a substantial impairment and writedown, which will hit the P & L. The loss for the business will be a non-cash loss but it will severely hamper future profitability and cash flow as they won't lend (understandably) to customers who have defaulted.

I don't think anyone would argue that PFG hasn't made an almighty mess of things, and considerably lowered it's value as a business. However, in those last 3 months the share price is down nearly 75%. I have no real interest in where the share price has been, my interest is in where it will go from here. The bad news you mention has been priced in. The question now is will things prove to be worse than the market is currently pricing, or will they begin to get things back on track. I bought on the basis that the latter may well be true. I'm certainly not looking for PFG to get back to the health or share price they were at the start of the year, that won't happen, if ever, for years.

Peter

[aiminvestor11] 19/10/2017 17:00

Terminated,

The loan book has shrunk by 33% or ~£150 million in the past 3 months alone - that's not collections that is a substantial impairment and writedown, which will hit the P & L. The loss for the business will be a non-cash loss but it will severely hamper future profitability and cash flow as they won't lend (understandably) to customers who have defaulted.

The metrics for measuring collections also needs to be looked at. If it's a measurement of the net loan book, is it actually improving (from 57% to 65%) or has collections performance remained at the depressed level, masked by the make up of the net loan book on account of the substantial impairments?

[terminated] 19/10/2017 16:26

I sold my holding last week making a quick 12% because the RNS didn't seem to suggest a big turnaround was on the cards, in fact it said very little and yet it jumped up. Many here are expecting it to double, and if course it might, but there is no logical reason to assume so. In fact looking back at news there is no logical justification given to report the loss they are projecting to make this year except the doorstep collecting business has encountered difficulties and this accounts for about only one third of their business. Does anyone have more details on the projected loss and exactly why it is so large?

[cellular3] 19/10/2017 14:37

I know, need the positive drive back

[umitw] 19/10/2017 14:35

Where is Glen..? Missing him already. :-)

[cellular3] 19/10/2017 13:50

You sure? 🤒