Virgin Money Share Discussion Threads

[its the oxman] 25/4/2017 08:13

Appears a good positive update at first glance.

[flagon] 24/4/2017 16:36

Q1 IMS is due for release tomorrow ... good news leaked ? Possible news regarding Co-Op Bank t/o ? Probably none of the above and just that the FTSE is up circa 150 points.

Norges Bank are a front for the Norwegian Sovereign Wealth Fund and as such buy stakes in lots of different companies ... don't myself see them as a bidder for VM.

GLA

[terry topper] 24/4/2017 16:01

Norges Bank have gone above 3% so had to announce this (it was at 2pm today).
Are they viewed as a potential bidder?

[opodio] 24/4/2017 15:44

is the bid coming

[its the oxman] 24/4/2017 15:17

320p, still lots to go for if trading update delivers nothing nasty.

[its the oxman] 19/4/2017 12:34

Top up yesterday at 290p looking ok. Hope to see this back above 350p in not too long though.

[rhatton] 18/4/2017 11:05

Thought there might have been support around here given the trading statements next week!

[grahamite2] 13/4/2017 10:20

Interesting thread. I didn't even know Virgin Money has a stand-alone listing - thank you spob.

[its the oxman] 13/4/2017 09:20

Dire share price. Hope it's worth the wait whatever happens.

[catsick] 10/4/2017 05:13

Sounds like vm are in pole position out of 2 to 4 bidders for the coop I am guessing that they are the only listed entity which should make them by far the easiest buyer to do a debt / equity swap, I recon they get the equity for free and then swap the 456m of subordinated debt for vm shares at 4 pounds a share and the 400m of senior for half cash and half shares, that way they have a very healthy ammt of capital and a big buffer to allow several years of losses at the coop before there is any issue... VM doubles in size and keeps plenty of capital for a 30 pct share count increase, with no placing needed in the market

[montyhedge] 07/4/2017 09:35

CatSpot on.

[catsick] 07/4/2017 09:24

I am buying these and have been buying the coop 11pct bonds at 33 as well, I think virgin is down as the market is nervous about them buying the coop, but I think it will be a great deal for them, the coop bonds are 35p and were 110 not long ago and will be straight back up if virgin take them over which will more than make up for any sell off on the news, long term I think it will be a good fit and a win win !

[its the oxman] 06/4/2017 15:16

Bought today 301p in hope invested analyst is right about consensus and imminent trading update - 25th April supposedly.

[flagon] 05/4/2017 12:19

xd is tomorrow : 3.5p

[its the oxman] 05/4/2017 12:16

X div though

[its the oxman] 05/4/2017 12:15

Going the wrong way at the moment.

[its the oxman] 03/4/2017 11:13

Yep, 400p would be more like it

[flagon] 03/4/2017 10:00

Jefferies Grp have today reiterated their BUY recommendation increasing their TP from £4.25 to £4.30.

Link ->

[its the oxman] 03/4/2017 08:13

Yes I clearly remember seeing Richard Branson on morning TV shortly after the Brexit vote saying the vote and plunging share price of VM had scuppered a deal that was looking imminent. Always wondered what that was or if it might just be postponed until share price had recovered. Could of been be co op related or something else.

[catsick] 03/4/2017 06:21

Am guessing a bid for the coop would require a modest placing to be made, maybe at 3 quid level , however in the long run they are the best placed player to make it work, the bank would probably be close to free but come with a capital requirement which would require some sort of fund raise, in the long run it could work out very well

[flagon] 31/3/2017 16:56

Seems inexpensive to me as well.

I just wonder if a placing is coming to pay for bit(s) of the Co-op bank ? They have form in this area with the purchase of Northern Rock which has worked out to date very well.

[its the oxman] 31/3/2017 16:44

VM feels like it's been left well behind compared to the likes of OSB and Shawbrook. Opportunity I guess, or is there a reason? Seems cheap with x div date due soon.

[flagon] 23/3/2017 12:22

Has market underestimated Virgin Money mortgage growth?
23 March 2017, 11:55

Investec banking analyst Ian Gordon thinks consensus forecasts for net mortgage lending at challenger bank Virgin Money (VM) are too pessimistic.

Figures out today from the Council of Mortgage Lenders showed gross mortgage lending of £18.2bn in February 2017, up 1% year-on-year and the best performance for that month in nine years.

Noting the January level was also the best over the same time-frame, Gordon asks: ‘When will consensus correct?’

Net mortgage lending shows the flow of new mortgage lending minus any repayments. Gordon’s forecast is for net mortgage lending in 2017 of £3.8bn, representing 13% growth, against the consensus estimate for £2.9bn.

UPDATE IS ON THE HORIZON

Investors may get an indication of who’s right when Virgin delivers its first quarter interim management statement on 25 April.

Gordon reiterates his 385p price target, against the current share price of 321p, and ‘buy’ recommendation. He says: ‘We expect it to deliver a superior total shareholder return over the next 12 months vs every large-cap UK bank.’

Link ->

[montyhedge] 04/3/2017 14:55

I thought excellent figures.