As buyers are outstripping sellers today by 3:2 why is there resistance to breaking through 25c. Trading statement from AIB is fine. They had write backs of 109m in Q12016, while Bkir has had none since 2014 results but the crappy loans are getting less all the time. Mortgage constraint is today's excuse for low valuation. Never mind the valuation of 8 times 2016 earnings or 0.9 times book value. I am guessing that Richie has a write back stored up of at least half a billion (if he had followed AIB's trajectory) , but tight lips has never let us know what is really going on
Nice to read but in fairness Cantor have been flogging BKIR in its notes like a dead horse. The sp is see is jammed at .249 at the impregnable ceiling of .25c. We need to see .25c destroyed and move upwards fast
Though Bank of Ireland (BOI) faces several specific headwinds, including the uncertainty surrounding a possible BREXIT, and the negative impact it would have on it’s UK denominated profits and the translation effect of UK mortgages into its euro denominated balance sheet. Its Standard Variable Rate (SVR) currently stands at 4.5%, well above AIB at 3.4% and KBC at 3.2%, and significantly above the Eurozone average of c. 2%. BOI will likely continue to face increased political pressure and media attention to cut its SVR rates for existing and new customers which will impact profitability. However, BOI remains focused on its fixed rate mortgage offering, which accounts for two thirds of all new mortgages written. Our model suggests that a 25bps SVR cut reduces Net Income by €20m on a full year basis. Ultimately, we believe the recent negative sentiment is currently reflected in BOI’s share price which trades at 0.9x FY16e Price/ Book and 7.4x FY16e Price/ Earnings. We see 47.6% upside potential to our 12 month target price at 35c and believe management will re-instate its dividend policy in FY16e given that the bank has returned to sustainable profitability, initially paying 0.9c per share which is a 3.7% dividend yield.
.. notice the "X". was used in Scotland.. Bre X it. ... kill it.. kill this EU deal.. the welfare benefits are collapsing the country.. what would King Arthur Uther Pendragon think of this deal..? he would probably take the "Prydwen".. his shield and. his sword and defend the right of sovereingty of the UK.. this is definitely a close close.. 50/50 call... still a month left.. the biggest mistake of the EU was to overload the union with these slavic countries.. Greece was also a bad deal.. hopefully they wont stick Turkey into the EU.. the EU needs to go on a weight reduction diet.. get rid of the slavic countries.. Greece.. go back to .. 11 members. .. sans.. Greece.. and then this might work..
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