Secure Trust Bank Share Discussion Threads

[p1nkfish] 09/11/2023 13:20

I dont think so, 2nd largest single holding in my portfolio.

[xamf] 09/11/2023 12:41

I've taken the plunge here again at 611 for a long term hold.
Had hoped to get them under 600 but I'm betting on the Q3 update underpinning the price. The fundamentals are amongst the best of any of the financials I've yet researched. PE 2.9, PEG 0.2, price to book 0.35 and dividend over 8%. Am I missing something?

[1tx] 08/11/2023 10:21

I would expect STB's consumer finance to be at best flat presently.V12 Finance,thair consumer finance division specialises in furniture,cycles,home improvements etc.Business in these sectors is fairly tough at the moment although we may see an uptick in trade in the New Year if bargains are available.

[wallywoo] 08/11/2023 08:57

It's strange, if you read the H1 results they are very bullish about H2. Big increase in profitability expected etc.


This Q3 statement is very muted by comparison. No wonder the share price doesn't know which way to go, now. There's nothing bad, they just say "steady as she goes ". Very different from the H2 is going to soar words in the H1 statement.


Perhaps there will be more clues in the capital markets event at 11am!

[rimau1] 08/11/2023 07:49

Decent steady update, i am a buyer at these levels. The £4bn loan book and a CIR of 44-46% is very achievable. I like the narrowing of targets at todays capital markets day. Nice to also see the deposit base growing as it should being the cost of funding the loan book down. Clearly the flagging of consumer finance slowing down is unhelpful but expected.

[p1nkfish] 07/11/2023 13:28

Look back further to get an idea where buying steps in on the weekly.

[p1nkfish] 07/11/2023 13:21

Volume of w/c commencing 6th Aug at 973K, low was 559.78p, from here it looks ok so long as ends weekly > 560p and a chance of a decent < 10% stop-loss at this price.

May be wrong but looks unloved, undervalued with possible catalyst if picture is not horrendous with a sensible stop-loss window.

[bones] 07/11/2023 13:07

It’s all about the bad debt provisions in retail tomorrow I think. If they are under control in the context of a worsening consumer environment, that should be positive.

[wallywoo] 07/11/2023 12:01

Watching this one closely. Coiled spring, imho. Waiting for tomorrow's lift off!!!

[cfro] 03/11/2023 16:08

Ameriprise must be selling below what they paid for them originally surely?

Makes you wonder if there isnt some distressed selling going on by them. They might be in a bit of schtuck perhaps..

[catabrit] 03/11/2023 10:43

We must not forget the big seller in the background, Ameriprise.

[p1nkfish] 03/11/2023 09:45

Agreed but not easy when fighting sentiment and ebbing money flows in the sector.

New Advisor might be onboarded at bottom.

Time for a change anyway.

[red ninja] 03/11/2023 07:59

The old advisor was not exactly successful in selling the STB story.
Maybe the new ones can do better.

[p1nkfish] 03/11/2023 07:11

Out with the old Acvisor.

[wallywoo] 03/11/2023 06:38

After the disaster at Metro Bank, fear is ruling these smaller cap banking stocks. Fear is the most irrational of emotions, hence the share price here. The poor results from barc, Natwest, Stan, etc just add to the poor sector sentiment.


The event on the 8th November hopefully will provide some balance against that fear as the news and actions from OSB did yesterday. I think and many pundits think stb is unfairly cheap currently. Let's hope we are right!!


In the meantime, stb shareholders will need to hold their nerves, or of course give in to fear. I doubt that there's any real issues with STB but we will have to wait. I bgt in yesterday, risky bottom fishing bet for me!!

[indalo] 02/11/2023 16:30

Interesting to see todays weakness when OSB rallied 15% on a positive trading update. Any insights out there??

[p1nkfish] 27/10/2023 16:08

Very useful NED appointment - Victoria Mitchell - all round relevant experience.

[catabrit] 24/10/2023 10:44

Agree on Strix. I have an amazing filter and so unless something is just ridiculously cheap, I just tend to pass on stuff. I remember Strix getting written up several times on IC and whilst I thought it was an interesting business model with some barriers to entry, it was always efficiently priced with 50/50 odds either way. Now it’s cheaper but I still don’t think the odds are that massively favourable so it’s on the watchlist.

With STB the odds are much more favourable.

[p1nkfish] 24/10/2023 10:30

Whenever I see a recommendation the first thing I do is look at trend, then fundamentals. Strix has been under the cosh for just over 2 years so avoided and will do until I see some change. Currently happy to give up the upside in Strix until change confirmed and that looks like about 80p as a weekly close although that limit is heading down too so could end up < 80p.

Fascinated to see how STB goes through tomorrow onwards. Quite hard to convince the market to sit up and take note but to me it looks in bargain territory.

[catabrit] 24/10/2023 10:07

Just on Ennismore, I like them and think they are some of the best operators around. Particularly in small and mid caps. However, they are just as human as the rest of us and some of their long picks have been massive duds. I always see what they’re up to but I usually put the interesting stuff on my watchlist and wait for a better entry point. Strix is a great example.

[p1nkfish] 24/10/2023 09:58

What happens to the price if they buck expectations and all looks good and under risk control. Current price is ridiculous.

[tomps2] 18/10/2023 11:55

Secure Trust Bank (STB) Capital Markets Day

Wednesday, 8 November, 11:00am

The Capital Markets event will include a deep dive into the Retail Finance division and further detail on the Group’s path to delivery of its medium-term financial targets. Speakers at the event will include David McCreadie, CEO, Rachel Lawrence, CFO, Nick Davies MD of Retail Finance and Andy Phillips, Commercial Director of Retail Finance.

To register for the event in person or virtually, please contact [e-mail]

[jeff h] 14/10/2023 13:07

Trading update is 8th November.