Virgin Money Uk Share Discussion Threads

[bountyhunter] 04/5/2023 12:35

I'm beginning to think that the danger is in holding UK company shares generally the way that our politicians denigrate any successful UK company that dares to make a decent profit!

[rmillaree] 04/5/2023 11:36

I guess todays news highlights the danger of holding banks.

The reality is its impossible to work out when and how much "bad debt provisions" will turn up and i dont think we should be surprised the market is somewhat spooked that out of nowhere 1/3 of tehe profits have vanished. The ultimate danger here is that provisions could increase again and easily wipe out profits and we probably would see it coming.

Slightly annoying they dont try and smooth things out - last years impairment charge was so low that its annoying that these entries are lumpy and non transparent - thats probably the accounting standards to blame. No idea how conservatiove they are being !

Note i am fully aware numbers arent real in some repects ref these provisions but i always think we are likely to be shocked on the negative side than good side with stuff like this. Dont see whya well capitalised bank should not be allowed some formal smoothing adjustment with relevant behind te scenes monitoring if needs be.



Other than that they are pretty much doing exactly what i would want them to do - try and go digital good customer service (my mate closed his acxount ion disgust due to poor customer service) and keep things simple. Buyback fine by me if price is not up with events.


So hopefully operationally things are fine and its tickover stuff.

[netcurtains] 04/5/2023 09:44

Yeah - £1.50 is a reasonable short term target.

I'm glad the dividend yield was increased - I guess that is worth even more (at this price).

[arja] 04/5/2023 08:54

bouncing a bit but will do well to get back to 150 gap level. aussie banks tanked today after bad results !

[bountyhunter] 04/5/2023 08:49

Increased provision for bad debt as opposed to any actual losses appears to be the problem?

"...chief executive David Duffy said “we’re not seeing any material deterioration in any of the asset categories in our books. What we’ve done is update our macroeconomic models, which you’re required to do, and most of the other banks did in the last quarter.”

The updated model anticipates more stress in the economy, but “we have not seen any stresses to date in our books,” Duffy continued.


But higher revenues and increased interest rate margins.

[netcurtains] 04/5/2023 08:11

Blimey.
Market seems to have gone a bit nuts.

Oh dear.

[queenbreguet] 04/5/2023 08:10

Market does not like the results

[bountyhunter] 04/5/2023 07:39

Interim dividend up significantly in percentage terms.

[netcurtains] 04/5/2023 07:32

So results. The man on the radio sounds very happy. However like always I have no idea if these results are good bad or average.
Profits up 16%
But because of "stuff" they are not.
Is the "stuff" the important thing or is the profits up 16% the important thing?
We will soon know.

[bountyhunter] 03/5/2023 15:58

Virgin is outperforming the other UK banks today, hopefully that bodes well for tomorrow...

[bountyhunter] 02/5/2023 10:27

Compare Virgin to other banks on my BANKS thread (links back here from the VMUK chart).

[netcurtains] 28/4/2023 14:38

Nwg been rising more or less whole time since 9am

[arja] 28/4/2023 13:49

have a good weekend NC . VMUK treading water lately and hard to pick next big movement = NWG getting hammered today does not help :)

[netcurtains] 23/4/2023 08:24

What bank produces its own banknotes and has a low market cap
If Virgin's notes became a stable coin imagine what price crypo investors give Virgin Bank?
Div Yield: 6.42 (Google's figures).
PE 4.82


(ps does anyone know why ADVFNs market cap for Virgin is only 1/3 that shown by Google? Which one is right? )

Also ADVFN's dividend yields and PE ratios for virgin are different from Google's versions. Which one is right?

[netcurtains] 21/4/2023 10:24

PS (O/T) - I've updated my profile with my book.
It includes a chapter on my trading systems
and since this stock is also traded in Australia
its worth pointing out it also includes a
chapter on Australian contractors.

[netcurtains] 21/4/2023 08:50

Market struggling to keep this down.

could end up blue today - touchwood.

[arja] 20/4/2023 10:44

I will read the link NC and have just perused the VMUK chart . It suggests that
resistance level is about 170 . VUK broke out in OZ to close at high for day of 298 ( about 161p) . It is very strange as UK is lead market for this stock .

[netcurtains] 20/4/2023 10:38

Good luck. I'm sure you do well....
If you look at Stock challenge I've had Virgin for all of April

Up 6.23% - but hoping for a lot more. NetcurtainsAuto is 40th at present - slightly better than average, but not that much.

[arja] 20/4/2023 10:29

yes, more than one way of making money netcurtains . I day or overnioght trade to take most of the RISK away and will not be affected if USA indices tank for instance as hard for any other markets not to follow big brother :) . I sold 65% of my VMUK at 158.20 and might keep rest overnight .

[netcurtains] 20/4/2023 10:01

I'm not really a day trader - I'm hopeless at that. I like looking at monthly to quarterly trends of undervalued stocks.
To me this should go over 1.60 - but cannot say if its today. Be nice if it was. But happy as long as it does it.

[arja] 20/4/2023 08:48

i notice all the banks are up today modestly but overall market is bearish !

[arja] 20/4/2023 08:44

hate this algo trading as it is almost like " computer says no " :) . did you ever see matt lucas comedy sketch Netcurtains ?

[arja] 20/4/2023 08:24

well, I got that wrong but have bought a modest holding at 156.38 with a CFD and hoping it might put on few more pence today :)