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Mulligan's .....if it gets there it'll be a well deserved pint of black
.. keep a watch for July 28th.. not that far away.. you might have a short 10 to 15% jump next 4 weeks.. this stock was trading at the mis .35 for a good while..
From RTE Brokers Reports: "Daily Note Friday, 7th July 2017 News Earlier in 2017, the Single Resolutions Board (SRB) required all Irish banks to established a HoldCo in order to meet regulatory requirements to deal with future bank resolutions. Permanent TSB already has a HoldCo structure in place, and AIB is set to established one in Q4/17 or early 2018. Bank of Ireland has received High Court and shareholder approval for this new HoldCo company which will be called Bank of Ireland Group Plc. Management also intends to carry out a share consolidation too which involves a 1 for 30 stock split. This means for every 30 shares of Bank of Ireland’s existing ordinary shares, investors will receive 1 new Bank of Ireland Group Plc share in the new HoldCo. Total shares outstanding will reduce from 32.36bn to 1.08bn, which should help reduce intraday volatility in the stock. Bank of Ireland’s share price closed at 24c on Thursday evening and based off the 1 for 30 consolidation, Bank of Ireland Group Plc’s share price should open at €7.20 on Monday morning. Our 12 month target price will move from 27.2c to €8.16 as a result which still offers 13.3% Comment The new HoldCo structure will issue equity, senior and junior debt in the future which will be hit first or bailed in if the Group runs into financial difficulty ever again similar to the last financial crisis. Deposits will be held within the Group’s operating company and will be more senior and offer greater protection than the equity and debt securities issued by the HoldCo. Bank of Ireland is currently trading at just 0.85x FY17e Price/ Book, which is a 11.5% discount to the broader Euro Stoxx 600 Bank Index (SX7P Index) at 0.96x. We think this discount will close in due course and Bank of Ireland should positively re-rate higher over the coming months. We have seen a sizeable move higher in European bonds yields over the past week which is a supportive backdrop for European banking stocks. A little over a week ago, 10 year German yields were 0.22% and are trading 34bps higher this morning at 0.56% and have broken through key resistance at 0.50% in the process. Bank of Ireland is due to report H1/17 on the 28th July and the Group should report an uptick in new lending growth rates in Ireland, a small improvement in Net Interest Margin and further improvements in asset quality as consumer and business sentiment continues to improve while housing value have risen over past 6 months. Stephen Hall, CFA | Investment Analyst Bank of Ireland "
.. new trade symbols..? monday..? should be interesting.. penny stocks deal in the obscure exchanges.. most investment funds have a rule of not investing in penny stocks.. very risky to buy penny stocks unless you have a good vision of the company.. hopefully this change will be beneficial..
Have a famous song called Blue Monday let's wait and see
Which means we have done full circle G L A
Well said
€7.38
Looks like some of the shorting scum washed out in past two days! May the trend continue and the consolidation bode well for the future. RIP penny stock!!
I think officially its just over 26c. In practice it always seems to be 0.01c above the quoted price with support an open trap door.
There are guys that will check their BOI share holdings on Monday, see a price of €7.35 and think they are rich. If only! The .40c party will now be the €12 party. Anyway, Monday is one more step in the right direction. Can only be good.
Where is next resistance? Or are we at it now?
Consolidation happens at the close today, new shares trading on Monday, would like to think it's the start of something ! GLA.
Skinners, I'm happy to see that AIB holds that distinction today and not us for a change :-)
Skinners, I'm happy to see that AIB holds that distinction today and not us for a change :-)
Results on July 28th. Busy month so hopefully the tide will turn. There's a bit of movement in the right direction on bonds as well.
New chief of b.o.i needs to throw a few bones or crumbs to ordianry shareholders!
This is a lesson to small shareholders
I dont know how they get away with it. Hundreds of millions of shares over the last week wiped out with 20 million volume today.
All we're missing now is PGee to say worst performing share today. :-)...
I've bought some more myself this morning, feeling optimistic.
I think we have all travel sickness with this share. Stick with the turbulence and blue skies may appear. Beats playing the lotto
Just topped up! Only fair to put my money where my mouth is! This game must change!, tomorrow is that start, I hope!
Good luck to all
Sold out at .236.. Have more to be doing than watching a manipulated stock. Just too frustrating